Sell Crude Oil Around 6100 SL Above 6130 TGT 6070/6040 - Axis Securities
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GOLD
GOLD prices edged higher in last trading session after prices broke the strong resistnace zone of 47500 and rallied up till 48000 level. Short term is positive for prices as it is trading above 9 and 20 days EMA. On hourly chart RSI is also above 60 level which indicate strong momemtum in prices. Any dips around 47700 level may be used as an buying opportunity for prices for the target of 47800 level.
BUY GOLD AROUND 47700 SL BELOW 47600 TGT 47800/47900
CRUDE OIL
Crude oil prices traded volatile in last session on both the sides. Prices closed around 6060 level. On daily chart we have observed a long legged doji followed by a doji candlestick which indicate that selling pressure will remain. Moreover on hourly chart RSI is below 60 level which indicate that momemt is low. Any rallied towards 6100 may be used as an selling opportunity for the target of 6070 on intraday basis.
SELL CRUDE OIL AROUND 6100 SL ABOVE 6130 TGT 6070/6040
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