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Gold

Gold prices recovered in the last session after testing the support zone of 58700 level. Prices closed around 58950 level and was up by more than 130 points. On the daily chart prices is still trading below 20 and 60 EMA which is negative for prices. Traders may 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 clsoed on a negative note in the last session. On the daily chart prices settled around 7464 and was down by more than 20 points. 7570 level is proving to be a major hurdle for prices as it is not able to sustain above it from past few days indicating supply zone for prices. RSI is also below its reference line. Traders may sell Crude oil on rallies for intraday basisv

SELL CRUDE OIL AROUND 7560 SL ABOVE 7620 TGT 7500/7400 

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