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Silver

Silver prices edged lower in last trading session after prices failed to sustain around 66000 level on higher side. Eventually it broke the support zone of 65500 and drifted lower towards 64800 level. Near term trend has turned negative for prices as it is trading below 9 and 20 days EMA and RSI is also below 40 which indicate that mometum is strong on the downside. Traders can sell Silver on rise around 65500 for the target of 65200 on intraday basis.

SELL SILVER AROUND 65500 SL ABOVE 65800 TGT 65200/64900

Crude oil

Crude oil prices gave a gap down opening in last trading session. However it managed to close in green in last session. Strong resistance zone is seen around 6400 level. We have obsereved divergence in prices with RSI which indicate that prices may reverse from the current level. Traders can Sell Crude oil around 6400 level for the target of 6350 on intraday basis.

SELL CRUDE OIL AROUND 6400 SL ABOVE 6430 TGT 6350/6280

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