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SILVER

MCX Silver price has formed support near 61.8% retracement level and seen pullback, price is expected to trade positively. Any breakout above 70500 next leg of the rally would push the price higher towards 71200/71600 levels in intraday. The price has started trading above 9,21&60 hourly EMA which is a bullish sign for the Prices.

BUY SILVER ABOVE 70500 SL BELOW 70000 TGT 71200/71600

CRUDE OIL

MCX Crude oil price dragged down strongly after inventory data in the last trading session, price remains to trade lower. Any breakdown below 4810 next leg of the correction may drag the price lower towards 4770/4750 levels into trend line level. The momentum indicator RSI is trading at 42 and it is forming lower lows which is a negative sign for theprices.

SELL CRUDE OIL BELOW 4810 SL ABOVE 4840 TGT 4770/4750 

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