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Gold

Gold bulldozed the bear in the last session. Prices posted its best gains of more than 2 percent in many month and settled around 59400 level. On the daily chart it is trading above 20 and 60 EMA and RSI is also above 60 level which indicate that momentum is strong for prices. Near term trend is looking positive for Gold. Buy on dips is recommneded in Gold for intrdaday basis.

SELL GOLD AROUND 58100 SL ABOVE 58200 TGT 57950/57800

Crude Oil

Crude oil prices was on a roll in the last session. Prices was up by more than 5 percent and posted its best gains in several weesk time. Settlement was around 7274 level. Prices ended above 60 and 9 EMA and RSI is also above its reference line which is a positive sign. Traders can buy Crude oil on dips around 7100 for the target of 7160 on intraday basis.

BUY CRUDE OIL AROUND 7100 SL BELOW 7050 TGT 7160/7250

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