Buy Gold Around 63400 SL 63200 TGT 63600/63700 - Axis Securities Ltd
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Gold
Gold prices extended its positive momentum in the last session. Prices posted its best weekly gains in over 4 months by rallying more than 2 percent. Data print from USA came positive for bullio. Prices broke the resistance zone of 62600 and settled around 63600 level by gaining more than 1.5 percent in the last session. Overall tred is bullish for prices. Buy on dips is recommended for intraday basis.
BUY GOLD AROUND 63400 SL 63200 TGT 63600/63700
Crude oil
Crude oil prices closed on a positive note in the last session. Prices finally broke the resistance zone of 6600 level after the weak data from USA which increased the probabiltiy of rate cut sooner than expected. Prices made an intraday high of 6690 level and settled around 6637 level by gaining close to 2 percent. Short term trend is looking positive for price as it is trading above 20 and 60 EMA and RSI is also above its reference line which indicate that momentum is strong. Buy on dips is recommended in Crude oil for intraday basis
BUY CRUDE OIL AROUND 6600 SL 6540 TGT 6660
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