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Gold
MCX Gold opened on a flat note and remained in a small range throughout the day. The chart pattern suggests that if Gold breaks and sustains below 59100 level it would witness selling which would drag the price towards 58800-58600 levels. Important resistance for the day is placed at 59400.

SELL GOLD BELOW 59100 SL ABOVE 59300 TGT 58800/58600

Crudeoil
MCX Crudeoil opened on a positive note and traded with extreme volatility throughout the session. The daily strength indicator RSI is movieng upwards and is above its reference line indicating positive bias. Crudeoil continues to remain in an uptrend for the short term,so buying on dips continues to be our preferred strategy.

BUY CRUDEOIL ABOVE 6400 SL BELOW 6300 TGT 6520/6570

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