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Published on 2/07/2020 5:33:46 PM | Source: Axis Securities Ltd

Sell Gold In The Range Of 48100-48080 SL Above 4848250 TGT 47800/47700 - Axis Securities

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

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Gold

MCX Gold price has given negative breakout from rising trend line channel, price is expected to trade negatively. Sustaining below 48100 next leg of correction would drag price lower towards 47800/47700 levels in intraday. Price has started trading below 9,21&60 EMA which is bearish sign for prices.

SELL GOLD IN THE RANGE OF 48100-48080 SL ABOVE 4848250 TGT 47800/47700

 

Natural gas

MCX Natural gas price is trading under pressure, price is expected to trade negatively. Price has given correction after forming multiple resistance near 134 levels. Any breakdown below 126 next leg of correction would drag the price lower towards 122/120 levels intraday. The momentum indicator RSI is trading at 36 it shows bearishness in prices. 

SELL NATURAL GAS BELOW 126 SL ABOVE 129 TGT 122/120

 

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