Buy Crude Oil Around 6640 SL BELOW 6580 TGT 6700/6800 - Axis Securities Ltd
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Gold
Gold prices closed on a flat note in the last session and settlement was around 65540 level.. Prices is not able to sustain above 66000 level from past few days indicating supply zone near the mentioned level. Morever momentum indicator RSI on the daily chart is trading below its reference line which indicate that buying momentum is weak on the uspide. Sell on rise is recommended as long as 66000 level is intact on the upside.
SELL GOLD AROUND 65800 SL ABOVE 66000 TGT 65550
Crude Oil
Crude oil prices closed on a flat note in the last session due mix news flow regarding Crude oil prices. Settlement was around 6730 level. On the daily chart prices settled above 20 and 60 EMA and RSI is also trading above its reference line whcih indicate that momentum is strong on the upside. Traders can buy Crude oil on dips around 6640 for the target of 6700 on intraday basis.
BUY CRUDE OIL AROUND 6640 SL BELOW 6580 TGT 6700/6800
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