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Published on 10/07/2020 4:09:33 PM | Source: Axis Securities Ltd

Buy Copper Above 487 SL Below 485 TGT 490/491 - Axis Securities

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

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Gold

MCX Gold price has taken support near 38.2% retracement level, price is expected to trade positively. a Sustaining above 49000 next leg of rally would push price higher towards 49300/49400 levels in intraday. On the hourly chart price is trading above 60EMA which suggests small corrections should be used for buying.

BUY GOLD IN THE RANGE OF 49000-49020 SL BELOW 48800 TGT 49300/49400

 

Copper

MCX Copper price is trading under an ascending triangle pattern, price is expected to trade positively. Any breakout above 487 next leg of the rally would push price higher towards 490/491 levels in intraday. The momentum indicator RSI is trading at 62 it shows bullishness to continue in gold prices.

BUY COPPER ABOVE 487 SL BELOW 485 TGT 490/491

 

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