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GOLD

Gold prices rallied higher in the last session and made a feak high of 61900 level. Price closed around 60750 level and was up by almost 1 percent. Additionaly on the daily chart prices is trading above 9 and 60 EMA and RSI is also above its reference line which indicate that momemtum is strong on the upside. Traders can buy Gold on dips around 60500 level for the target of 60700 on intraday basis

BUY GOLD AROUND 60500 SL BEOW 60400 TGT 60700

CRUDE OIL

Crude oil prices closed on a negative note in the last session. On the daily chart prices was hammered lower by more than 6 percent due to weak Chinese. Strong support zone in Crrude oil is placed around 5900 level. Techincally trend is looking bearish as it is trading below 20 and 60 EMA. Sell on rise is recommended in Crude oil for intraday basis

SELL CRUDE OIL AROUND 6050 SL ABOVE 6100 TGT 5990/5950

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