Buy Gold Around 70500 SL BELOW 70300 TGT 70750 - Axis Securities Ltd
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Crude oil
Crude oil prices opened with a downward gap as the talk for cease fire in Gaza gained momentum. However prices recovered swiftly from the day's low of 7112 and settled around 7179 level. On the daily chart the counter is comfortably placed above its previous resistance zone i.e 7000 level. As long as prices is trading above the mentioned level Buying is recommended for near term.
BUY CRUDE OIL AROUND 7140 SL 7100 TGT 7200/7300
Gold
Gold prices extended its positive momentum this week by recording new high. Price settled around 70900 and was up almost 0.4 percent. Strong ETF inflow and buying by central bank is supporting Gold prices at the higher level. Techical indicator like RSI and Moving average are bullish for prices. Near term remain strong as long as 69000 level is intact on the downside. Traders can buy Gold on dips for intraday basis.
BUY GOLD AROUND 70500 SL BELOW 70300 TGT 70750
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