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Published on 28/01/2020 5:22:05 PM | Source: Axis Securities Ltd

Buy Gold In The Range Of 40450-40470 SL Below 40300 TGT 40650/40750- Axis Securities

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

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Gold

Gold price is trading under ascending broadening wedge pattern, price is expected to trade positive. Sustaining above 40450 next leg of positive rally would push price higher towards 40650/40750 levels, Alternatively 40300 remains strong support level in intraday. On hourly chart price has been trading above 60 EMA which is positive sign for price.

BUY GOLD IN THE RANGE OF 40450-40470 SL BELOW 40300 TGT 40650/40750

 

Natural gas

Natural gas price has been trading To under bearish momentum, price is expected to trade negative. Sustaining below 134.50 next leg of correction would drag price lower towards 131/130 levels. On hourlychart price is trading below 9,21 & 60 EMA which is negative sign for price. RS] is trading at 34 it indicates low moment in price.

SELL NATURAL GAS BELOW 134.50 SL ABOVE 137 TGT 131/130

 

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