Sell Crude Oil Around 5930 SL Above 6000 TGT 5860 - Axis Securities
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Gold
In the last session Gold prices cracked lower after it broke the strong support zone of 59000 level and made a intraay low of 58660 level. On the daily chat prices has formed a large red candle and it closed below 20 and 60 EMA and RSI is below its reference line indicating that momentum is tilted towards downside. Sell on rise is recommended in Gold for intrday basis
SELL GOLD AROUND 59000 SL ABOVE 59150 TGT 58800
Crude Oil
Crude oil prices snapped its winning streak in the last session. Prices registered a loss of 0.70 percent and settled around 5823 level. On the daily chart prices has formed a doji candle indicating sideways to bearish bias for prices. Prices is not able to sustain above 5950 level from past few days indicating supply zonne for prices. Traders may sell Crude oil on rallies around 5930 for the target of 5860 on intraday basis.
SELL CRUDE OIL AROUND 5930 SL ABOVE 6000 TGT 5860
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