Sell Crude Oil Below 7800 SL Above 7950 TGT 7600 - Axis Securities
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Gold
MCX Gold opened sharply lower with 52189 52327 52447 52585 52705 a downward gap and traded with extreme volatility throughout the session. The hourly strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. The chart pattern suggests that if Gold breaks and sustains below 52300 level it would witness selling which would lead the It towards 53000-52800 levels.
SELL GOLD BELOW 52300 SL ABOVE 52500 TGT 53000/52800
Crude Oil
MCX Crudeoil opened on a flat note and remained in a small range L ssa throughout the day. Crude Oil PF S200 continues to remain in a downtrend pete in the intraday, so selling on rallies Pe continues to be our preferred + FY... strategy. Crude Oil is trading below L 70a 20&60 hourly SMA which is |. F800 indicating negative bias in the short to) P tee medium term.
SELL CRUDE OIL BELOW 7800 SL ABOVE 7950 TGT 7600
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