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Gold

Gold prices rallied higher in last trading session. Prices closed on a positive note by gaining more than 1 percent and settled around 59590. On daily chart prices closed above 20 and 60 EMA and RSI is also trading above 60 level which indicate that momentum is strong for prices. Buy on dips is the theme for Gold as long as 58900 is intact on intraday basis. Traders can buy Gold around 59100 for the target of 59400

BUY GOLD AROUND 59100 SL BELOW 58900 TGT 59400/59700

Crude

Crude oil prices closed on a negative note in last session. Prices failed to breach the previous day high of 5900 and it settled around 5777 level . On daily chart momentum indicator RSI is trading flat indicating sideways trend for prices. Prices is trading below 20 and 60 days EMA which is negative for prices. It has also formed shooting star candle whcih indicate possible reversal from the present level. Traders can sell Crude oil on rallies around 5860 for the target of 5800 on intraday basis.

SELL CRUDE OIL AROUND 5860 SL ABOVE 5900 TGT 5800/5750

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