Buy Crude Oil Around 6030 SL below 5980 Tgt 6120 - Axis Securities
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Crude Oil
Crude oil prices closed on a flat note in the last session. Prices settled around 6090 with a gain of 0.10 percent. Prides has formed a green candle followed by a hammer candle indicating possible reversal of the current downtrend. We expect prices to head higher as long as 5900 level is intact on the downside. Buy on dips is recommended in Crude oil for intraday basis.
BUY CRUDE OIL AROUND 6030 SL BELOW 5980 TGT 6120
Gold prices ended its losing streak in the last session. Prices rallies higher in the evening session and the settlement was around 62520 level. Prices respected the strong support zone of around 62150 level for multiple times indicating supply zone near the mentioned level. However immediate resistance zone is placed around 62850 level. We expect Gold prices to face resistance near the mentioned area due to strong bond yields and Dollar index. Sell on rise is recommended for intraday basis.
SELL GOLD AROUND 62700 SL ABOVE 62850 TGT 62500/62200
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