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CRUDE OIL

Crude oil prices gave gap up opening in last session , howerver it failed to sustain near the day high and closed on flat note. On weekly chart price is facing strong resistance near 6620 level. We may expect fresh rally in the counter only if it sustains above the mentioned level on houry chart for intraday trade or else it may trade in a range between 6620 and 6500 level for the day.

SELL CRUDE OIL AROUND 6620 SL ABOVE 6650 TGT 6590/6560

GOLD

Gold prices closed in green in last session. It traded sideways in a range between 47500 and 47700 level. On hourly chart we have observed bullish range shift in RSI. 47450 is a strong support zone for prices. If the mentioned level is intact on the downside we may expect prices to further rally higher up till 47650/47750 level or else prices may drift lower towards 47300 level.

BUY GOLD AROUND 47550 SL BELOW 47450 TGT 47650/47750

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