Momentum indicator RSI-14 is treading plat at 0.680 but prices are making higher highs. Usually in the scenario prices might correct up to support levels to get strengthen to trade higher side, intraday supports are seen at 5090-5080/5040 levels.
From the technical end intraday trend is looking bullish and possible intraday targets are seen at 5123/5165 levels. Recommend to buy on Dips around 5040-5060 levels…CMP 5100.
NYMEX Sep oil prices are witnessing the same so expecting correction up to support levels before going to trade higher side supports are seen at $92.05/91.4 resistance are seen at $93.25….CMP $92.54