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GOLD

Gold prices opened with a upward gap and closed on a positive note around 62800 level. Prices was up by more than 100 points. Near term trend is looking strong for prices as 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 down till 62500 is a good opportunity to by Gold for intraday basis.

BUY GOLD AROUND 62500 SL BELOW 62300 TGT 62700/63000

CRUDE OIL

Crude oil prices closed in a positive note by rallying more than 160 points after a couple of lackluster session. Prices settled around 6472 level. On the daily chart it closed above 9 EMA and RSI is also above its reference line which indicate that momentum is strong for prices. Traders can buy Crude oil on dips around 6400 on intraday basis.

BUY CRUDE OIL AROUND 6400 SL BELOW 6350 TGT 6480/6550

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