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Crude Oil

MCX Crude oil prices rallied higher in the last session and closed on a positive note around 6300 level. Prices gained more than 2 percent in the last session. On the daily chart it closed above 20 and 9 EMA and momentum indicator RSI is also above its reference line which indicate that trend is storng on the upside. . Traders can buy Crude oil on dips around 6220 for the target of 6300 on intraday basis.

BUY CRUDE OIL AROUND 6220 SL BELOW 6170 TGT 6300

Gold

MCX Gold prices closed on a flat note in the last session as most of major economy was shut due to holiday. The volume were very thin due to Christmas week as traders are on holiday. However prices is comfortably placed above 20 and 9 EMA and RSI is also above its reference line which is a positive sign for prices. Traders can buy Gold on dips around 63000 level for the target of 63300.

BUY GOLD AROUND 63000 SL BELOW 62800 TGT 63300

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