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Crude Oil

MCX Crude oil prices rallied higher in the last session all the way up till 6289 level. However on account of profit booking at the higher level it settled around 6180 level. On the daily chart it is trading above 20 and 9 EMA and RSI is also above its reference line which is a positive sign for prices. Traders can buy Crude oil on dips around 6140 level for the target of 6200 on intraday basis.

BUY CRUDE OIL AROUND 6140 SL 6100 TGT 6200/6250

Gold

MCX Gold prices closed on a flat note in the last session. Prices settled around 62396 as it failed to sustain near the day's high of 62600 level. Near term trend is loooking positive for prices as it is trading above 20 and 9 EMA and RSI is also above its reference line which indicate that momentum is strong. Traders will be awaiting data print from USA that may influence Gold prices. Buy on dips is recommended in Gold for intraday basis.

BUY GOLD AROUND 62200 SL BELOW 62000 TGT 62400/62600

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