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Published on 29/05/2020 4:23:57 PM | Source: Axis Securities Ltd

Buy Gold Aug In The Range Of 46700-46720 SL Below 46550 TGT 47000/47200 - Axis Securities

Posted in Commodities Reports| #Market Outlook #Axis Securities Ltd

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MCX Gold aug contract has seen smart recovery from yesterday's session and price is trading near falling trend line resistance level, Price is expected to trade positively. Sustaining above 46700 next leg of the rally would push the price higher towards 47000/47200 levels in intraday. The momentum indicator RSI is trading at 60 which indicates price remains to trade under bullish

BUY GOLD AUG IN THE RANGE OF 46700-46720 SL BELOW 46550 TGT 47000/47200

 

Nickel

MCX Nickel price is trading under a symmetrical triangle pattern, price is expected to trade positively. Any breakout above the 930 next leg of the rally would push price higher towards 942/948 levels in intraday. Price is forming lower lows in the channel which indicates any fall should be accumulated for buying.

BUY NICKEL JUN ABOVE 930 SL BELOW 922 TGT 942/948

 

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