Buy Silver Around 57500 SL Below 57200 TGT 57800/58200 - Axis Securities
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SILVER
Silver prices opened on a flat note in morning session. Prices broke the immediate resistance zone] of 57500 and it rallied all the way up till 57800 level. On hourly chart prices is trading above 20 and 9 days EMA which is positive sign for prices and momentum indicator RSI is also above its referece line which indiate that momentum is strong for prices. Near term trend is looking positive . Buy on dips is recommended around 57500 level for the target of 57800 on intraday basis.
BUY SILVER AROUND 57500 SL BELOW 57200 TGT 57800/58200
CRUDE OIL
In Yesteday session prices has formed a bullish piercing pattern hourly chart followed by a green candle which indicate possible reversal in the short term. Strong support zone is seen around 7160 level where one can initiate the buying position for the target of 7240 level. on the flipside breakdown below 7100 may push prices lower towards 7000 level and it will negate the bullish view.
BUY CRUDE OIL AROUND 7160 SL BELOW 7100 TGT 7240/7300
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