Sell Gold Around 47950 SL Above 48050 TGT 47850/47750 - Axis Securities
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Gold
Gold prices closed on a NEGATIVE note in last trading session. Price broke the strong support zone of 48000 and it drifted lower towards 47600 level on intraday basis. It closed below 20 and 60 days EMA which is a negative sign for prices. Traders may sell Gold on rise around 47950 for the target of 47850 on intraday basis.
SELL GOLD AROUND 47950 SL ABOVE 48050 TGT 47850/47750
Crude oil
Crude oil prices closed on a flat note in last trading session. On hourly chart prices is trading above 9 and 20 days EMA which is a positive sign for prices. On hourly chart RSI is nearing 60 level which indicate that momentum is strong for prices. Traders may buy Crude oil on dips around 5650 for the target of 5680 on intraday basis.
BUY CRUDE OIL AROUND 5650 SL BELOW 5620 TGT 5680/5710
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