Buy Crude Oil AROUND 6450 SL BELOW 6400 TGT 6520/6600 - Axis Securities
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Gold
Gold prices rallies in the last session as softer inflation data print from USA boosted Bullion prices as Fed may avoid further rate hikes. Prices settled around 60075 level and was up by more than 200 points. On the daily chart momentum indicator RSI is trading above its reference line which is a positive sign for prices. Traders can buy Gold on dips around 60000 level for the target of 60200 on intraday basis.
BUY GOLD AROUND 60000 SL BELOW 59850 TGT 60200/60400
Crude oil
Crude oil prices rallies in the last session after prices broke the resistance zone of 6500 level. However it failed to sustain near the day's high of 6600 and closed ona flat note around 6503 level. Near term trend is looking positive for prices as it is trading above 9 EMA on the daily chart. Neat term trend is looking positive as long as prices is trading above 6300 level. Buy on dips is recommended in Crude oil for intraday basis.
BUY CRUDE OIL AROUND 6450 SL BELOW 6400 TGT 6520/6600
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