Buy Gold AROUND 59100 SL 58900 TGT 59300/59600 - Axis Securities
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Gold
Gold prices opened with a upward gap in the last session. However prices failed to sustain near the day's high and closed around 59300 level. On the daily chart prices is trading above 20 and 60 EMA and RSI is also above its refernce line which indicate that momentum is strong for prices. Traders may buy Gold on dips around 59100 for the target of 59300 on intraday basis.
BUY GOLD AROUND 59100 SL 58900 TGT 59300/59600
Crude Oil
Crude oil prices made a multimonth high and settled around 7610 level. On the daily chart prices is trading above 20 and 60 EMA and RSI is also moving higher and it is above its reference line. However on the daily chart is has formed shooting star candle indicating potential reversal fo current downtrend As long as 7700 level is intact on the upside. Sell on rallies is recommended on intraday basis.
SELL CRUDE OIL AROUND 7650 SL ABOVE 7700 TGT 7600/7500
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