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Published on 27/02/2020 5:42:21 PM | Source: Axis Securities Ltd

Sell Gold Apr Around 42800 SL Above 42900 TGT 42700/42640

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

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Gold

Gold prices is trading in a wide range in today’s session. On hourly chart strong support in Gold can be seen around 42500 levels. On hourly chart strong RSI is trading below 60 levels which indicate low momentum in prices. If prices sustain below the mentioned support levels on hourly basis then we may expect prices to correct down till 42400 levels on intraday basis.

SELL GOLD APR AROUND 42800 SL ABOVE 42900 TGT 42700/42640

 

Nickel

Nickel prices corrected in today's session after price broke the strong support zone of 915 level and drifted lower towards 907 level on intraday basis. On hourly chart RSI edged below 40 level indicating low momentum in prices. Strong support zone can be seen around 905 level. Breakdown below the mentioned level may drag prices lower towards 902/896 on intraday basis.

SELL NICKEL BELOW 905 SL ABOVE 908 TGT 902/896

 

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