Buy Silver Above 61100 SL Below 60800 TGT 61400/61700 - Axis Securities
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CRUDE OIL
Crude oil prices traded volatile in last trading session. Prices failed to sustian near new 52 week high of 5950 and it corrected down till 5810 level. On hourly chart prices closed below 9 and 20 days EMA which indicate that near term trend has turned negative for prices. Immediate resistance zone is seen around 5850 level which can be used as an selling opporutnity for the target of 5820 level on intraday basis.
SELL CRUDE OIL AROUND 5850 SL ABOVE 5880 TGT 5820/5800
SILVER
Silver prices edged higher in last trading session and it closed around the immediate resistance zone of 61000 level. Short term trend is looking positive for prices as it is trading above 9 and 20 days EMA and RSI is also trading around 60 level. Breakout above 61100 level may push prices higher towards 61400 level on intraday basis
BUY SILVER ABOVE 61100 SL BELOW 60800 TGT 61400/61700
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