Published on 18/11/2020 5:53:26 PM | Source: Axis Securities Ltd
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Gold
MCX Gold price has seen resistance build up near 50% retracement and failed to sustain,price is expected to trade negatively.Sustaining below 50480 would drag the price lower towards 50330/50200 levels intraday.price is trading below 9,21&60 hourly EMA which is bearish sign for the prices.
SELL GOLD IN THE RANGE OF 50480-50500 SL ABOVE 50600 TGT 50330/50200
Silver
MCX silver price is trading near lthe trend in line support, price is expectedto trade negatively . Any brekedown below 62700 woold drag down the price lower towards 6200/61700levl in intrady. The momentum indicator RSI is informing lower lows and lower higjs which is a bearish sign for the prices.
SELL SILVER BELOW 62700 SL ABOVE 63200 TGT62000/61761700
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