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Published on 22/05/2020 5:43:23 PM | Source: Axis Securities Ltd

Buy Silver Above 48000 SL Below 47600 TGT 48600/48300 - Axis Securities

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

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Silver

MCX Silver price has seen a recovery from the horizontal support line, Price is expected to trade positively. Sustaining above 48000 next leg of rally would push price higher towards 48600/48800 levels in intraday. The hourly chart price is trading above 60EMA which is a bullish sign for price. While RSI is trading at 48 it indicates muted trading in prices.

BUY SILVER ABOVE 48000 SL BELOW 47600 TGT 48600/48300

 

Copper

MCX Copper price has given negative breakout from rising trend line channel, price is expected to trade negatively. Any break down below 405.50 next leg of correction would drag the price lower towards 402/401 levels intraday. As price is trading below 9,21&60 EMA which is a bearish sign for prices. RSI is trading at 15 it indicates low momentum in prices. 

SELL COPPER BELOW 405.50 SL ABOVE 407.50 TGT 402/401

 

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