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Buy Crude Oil Around 7180 SL Below 7140 TGT 7240/7300 - Axis Securities Ltd
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Gold
Gold prices extended its losing streak in the last session. Prices settled lower around 58907. On the daily chart prices has formed a large red candle and has closed below its previos session low which is a negative sign for prices. It settled lower below 20 and 60 EMA and RSI is also around 40 level which indicate that momentum is weak for prices. Traders can sell Gold on rallies around 59200 for the target of 59000 level on intraday basis.
SELL GOLD AROUND 59200 SL ABOVE 59350 TGT 59000/58800
Crude Oil
Crude oil prices closed on a positive note in the last session. It was up by more than 36 points and closed around 7265 level.. On the daily chart it is exhibiting higher high and higher low and it is above 20 and 60 EMA which indicate that the current trend is strong for prices. Traders can buy Crude oil on dips around 7180 for the target of 7240 on intraday basis
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