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Gold

TMCX Gold prices traded volatile in the last session and clsoed on a negative note. Prices are under selling pressure after it failed to hold the strong support zoone of $2050 level. Prices extended its losing streak in the last session. It settled around 62050 level and was down by close to 1 percent. Near term trend is looking negative for prices as it is below 20 and 9 EMA and RSI is also below its reference line. Traders can sell Gold on rallies around 62350 for the target of 62100.

SELL GOLD AROUND 62350 SL ABOVE 62550 TGT 62100

Crude Oil

Crude oil prices was down by more than 4 pecent in the last session on Saudi price cut and strong dollar index. Settlement was around 5868 level. Prices is stuck in a range between 5800 and 6100 from past few days. Technically near term trend is looking weak as it is trading below 9 and 60 EMA. Traders my sell Crude oil on rallies for intraday basis.

SELL CRUDE OIL AROUND 6050 SL ABOVE 6100 TGT 6000/5920

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