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Published on 21/01/2020 5:36:00 PM | Source: Axis Securities Ltd

Sell Gold In The Range Of 39900-39880 SL Above 40000 TGT 39700/39600 - Axis Securities

Posted in Commodities Reports| #Commodity Tips #Axis Securities Ltd

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Gold

Gold price has given negative break out from rising trend line channel, Price is expected to trade negative. Sustaining below 39900 next leg of correction would drag price lower towards 39700/39600 levels in intraday. On hourly chart price has started trading below 9&21 EMA which is bearish sign for price.

SELL GOLD IN THE RANGE OF 39900-39880 SL ABOVE 40000 TGT 39700/39600

 

Silver

Silver price has formed multiple resistance near 47000 and falling from failing to break mentioned level, price is expected to trade negative. Any reak down below 46550 next leg of correction would drag price lower towards 46100/45900 levels. On hourly chart RSI is trading at 35 it indicates low momentum in prices.

SELL SILVER BELOW 46550 SL ABOVE 46850 TGT 46100/45900

 

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