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GOLD

Gold prices opened with a upward gap and it closed on a positive note in the last session. Prices settled around 61540 and was up by more than 150 points. On the daily chart it is trading above 20 and 60 EMA and RSI is also above its reference line which indicate that momentum is strong for prices. Any correction around 61400 can be used as an buying opportunity for intraday basis.

BUY GOLD AROUND 61400 SL BELOW 61200 TGT 61600/61800

CRUDE OIL

Crude oil prices opened with a downward gap in the last session. However it managed to recoup some of its losses but it closed on a negative note around 6298 level. On the daily chart prices has formed a hammer candlestick pattern around the strong support zone which indicate possible reversal of the current downtrend. Traders can buy Crude oil on dips around 6300 for the target of 6350 on intraday basis.

BUY CRUDE OIL AROUND 6300 SL BELOW 6250 TGT 6350/6400

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