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Published on 14/08/2020 4:11:36 PM | Source: Axis Securities Ltd

Sell Gold In The Range Of 52500- 52480 SL Above 52700 TGT 52200/52100 - Axis Securities

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

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Gold

MCX Gold price has formed resistance near 50% retracement level, price is expected to trade negatively. Sustaining below 52500 next leg of correction would drag down price lower towards 52200/52100 levels in intraday. On the hourly chart price has been trading below 60EMA which is a bearish sign for prices.

SELL GOLD IN THE RANGE OF 52500- 52480 SL ABOVE 52700 TGT 52200/52100

 

Crude oil

MCX Crude oil price has broken trend line support, price is expected to| trade negatively. Sustaining below 3150 next leg of correction would drag down the price lower towards 3080/3050 levels in intraday. The momentum indicator RSI is trading at 28 it shows bearishness in prices.

SELL CRUDE OIL IN THE RANGE OF 3140-3150 SL ABOVE 3200 TGT 3080/3050

 

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