Sell Crude Oil Around 7000 SL Above 7060 TGT 6940/6900 - Axis Securities
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
GOLD
Gold opened on a positive note however we witnessed profit booking for most part of the day and closed with minimal gain. Gold closed at 50529 with a gain of 173 points. The daily strength indicator RSI is above its referene line which is a positive sign for prices. On the daily chart the It has formed a Small bearish candle with either side shadows indicating volatile movement throughout the session. On hourly chart Gold is trading above 20 and 60 day EMA's which indicate positive bias in the short term. Strong support zone is seen around 50000 level. We may expect some short covering near the mentioned level.
BUY GOLD AROUND 50350 SL BELOW 50200 TGT 50500/50600
CRUDE OIL
Crude oil prices gave a gap up opening and prices closed on a positive note in last session. Crude oil closed at 6909 with a gain of 210 points. The daily strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias. On the daily chart It has formed a bullish candle and has closed above its previous session's high indicating positive bias. On hourly chart Crude oil is trading above 20 and 60 day EMA's indicating positive bias in the short term. However strong resistance zone is seen around 7000 level. Where selling is expect down till 6800.
SELL CRUDE OIL AROUND 7000 SL ABOVE 7060 TGT 6940/6900
To Read Complete Report & Disclaimer Click Here
For More Axis Securities Disclaimer https://simplehai.axisdirect.in/disclaimer-home
SEBI Registration number is INZ000161633
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
