Buy Gold Around 46700 SL Below 46600 TGT 46800/47000 - Axis Securities
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Gold
Gold prices rallied higher in last trading session and has formed a sizeable green candle indicating bullishness in prices. Meanwhile on hourly chart price is trading above 9 and 20 days EMA and RSI is above 60 level indicating high mometum in prices. Any dips towards 46700 can be used as an buying oppotunity for the target of 47800 level on intraday basis.
BUY GOLD AROUND 46700 SL BELOW 46600 TGT 46800/47000
Copper
Copper prices traded volatile in last trading session. Prices touched 52week high i.e 708.9 level but failed to sustain near the higher level and ended the day near 698 level. However on daily chart prices has formed doji candlestick pattern on the top of the rally which is an indecisive candlestick patteren. We may expect some proft booking from teh current level if yesterday high is not breached. Traders can sell Copper around 705 level for the target of 702.5 level on intraday basis.
SELL COPPER AROUND 705 SL ABOVE 707 TGT 702.5/700
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