Gold price closed on a positive note in the last session. Prices settled around 59522 level - Axis Securities Ltd
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GOLD
Gold price closed on a positive note in the last session. Prices settled around 59522 level and it was up by more than 90 points. On the daily chart it is trading above 9 and 20 EMA and RSI is also nearing the reference line which indicate that momentum is positive. Prices is taking support around 59200 level from past few days indicating supply zone near the mentioned level. As long as mentioned level is intact we expect prices to trade with a positive bias.
BUY GOLD AROUND 59400 SL BELOW 59250 TGT 59600/59800
CRUDE OIL
Prices rallied by almost 1.5 percent and settled around 6858 level. Prices have touched a new multi-month high in the last session. Prices has formed a large green candle and it is trading aboe 20 and 60 EMA and RSI is also above 60 level on the daily chart indicating that the trend is bullish. Traders can buy Crude oil on dips around 6760 for the target of 6850 on intraday basis.
BUY CRUDE OIL AROUND 6760 SL 6700 TGT 6850/6900
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