Sell Crude Oil Around 5100 SL Above 5150 TGT 5050/5000 - Axis Securities
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Crude oil
Crude oil prices crashed by more than 8 percent in last trading session due to OPEC decision on increase in production. On hourly chart prices is trading below 20 and 60 days EMA which is a negative sign for prices. Moreover RSI on hourly chart is below 60 level indicating low momemtum in prices. Traders can Sell crude oil on rise around 5100 level for the target of 5050 level on intraday basis.
SELL CRUDE OIL AROUND 5100 SL ABOVE 5150 TGT 5050/5000
GOLD
Gold prices traded volatile in last trading sesson and it ended on a flat note near 48090 level. Overall trend is looking positive for prices as it is trading above 20 and 60 days EMA and RSI is also above 50 level mark indicating sideways to bullish trend. Immediate support zone is seena round 47900 level in Gold where traders can initiate buying for the target of 48000 level on intraday basis.
BUY GOLD AROUND 47900 SL BELOW 47800 TGT 48000/48100
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