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CRUDE OIL

Crude oil prices have experienced consecutive days of downward pressure, reaching a new monthly low by breaking through the significant support level of 5700 and reaching a level of 5567. This decline is further emphasized by the fact that prices closed below the previous session's low, indicating a negative outlook for prices. Additionally, on the daily chart, prices are currently trading below both the 20 and 60 Exponential Moving Averages (EMA), suggesting a bearish trend. Furthermore, the Relative Strength Index (RSI) is below its reference line, further confirming the bearish sentiment. In light of these indicators, traders are advised to consider selling crude oil on any rallies for intraday trading purposes.

SELL CRUDE OIL AROUND 5850 SL ABOVE 5900 TGT 5800 /5750

GOLD

Gold prices have shown a consistent upward trend over the past two days, with the latest closing at around 60240, representing a significant gain of over 200 points. This upward movement is highlighted by the formation of a large green candle on the daily chart, as well as the closing price surpassing the previous session's high. These developments signal a positive outlook for gold prices. Moreover, the closing price is above the 20-day Exponential Moving Average (EMA) on the daily chart, further supporting the bullish sentiment. Additionally, the Relative Strength Index (RSI) is above its reference line, indicating strength in the market. Given these indications, traders are advised to consider buying gold on any price retracements around the 60000 level, targeting a potential intraday gain up to 60400

BUY GOLD AROUND 60000 SL BELOW 59800 TGT 60200/60400

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