Sell Gold Around 58100 SL Above 58200 TGT 57950/57800 - Axis Securities
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Gold
Gold prices closed on a negative note in the last session. On the daily chart prices closed around 57900 and was down by close to 40 point.s Prices failed to sustain near the higher level of 58200 and drifted lower after CPI data which came at hotter than expected. We expected Gold prices to trade with a negative bias today as long as 58200 level is intact on the upside
SELL GOLD AROUND 58100 SL ABOVE 58200 TGT 57950/57800
Crude oil
Crude oil prices closed on a negative note in the last session. Prices settled around 6895 and was down by almost 2 percent. On the daily chart prices is trading below 20 and 9 EMA and RSI is also nearing its reference line which is negative for prices. Traders can sell Crude oil around 7000 for the target of 6895 on intrday basis.
SELL CRUDE OIL AROUND 7000 SL ABOVE 7050 TGT 6950/6900
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