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Gold

MCX Gold opened on a flat note and remained in a small range throughout the day. The chart pattern suggests that if Gold breaks and sustains below 58550 level it would witness selling which would drag the price towards 58300-58100 levels. Important resistance for the day is placed at 58800.

SELL GOLD BELOW 58550 SL ABOVE 58750 TGT 58300/58100  

Crudeoil

MCX Crudeoil opened sharply lower  with a downward gap and selling  pressure throughout the session. The chart pattern suggests that if Crudeoil breaks and sustains below 7350 level it would witness selling which would drag the price towards 7200-7100 levels. Important resistance for the day is placed at 7550.

SELL CRUDEOIL BELOW 7350 SL ABOVE 7450 TGT 7200/7100  

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