BUY GOLD ABOVE 60000 SL BELOW 59850 TGT 60200/60400 - Axis Securities
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Gold
Gold prices rallied in the evening session and closed around 59860 Level. prices rallied by more than 150 points in the last session. On the daily chart, prices are trading above 20 and 60 EMA which is a positive sign for prices. However, on the daily chart, RSI is below is reference line which indicates that the trend is sideways for prices.Strong resistance zone is seen around 60000 level. Breakout above the mentioned level may push prices higher towards 60200 level on intraday basis.
BUY GOLD ABOVE 60000 SL BELOW 59850 TGT 60200/60400
Silver
Silver prices is trading near one month high. Prices gave a gap up opening and settled around 71700 level. On daily chart price has formed a large green candle and has closed above previous session high which is a positive sign for prices . It is trading above 20 and 60 EMA and RSI is above 60 level which is positive for prices. Short term trend is looking positive for prices. Traders can buy Silver on dips around 71200 for the target of 71600 on intraday basis.
BUY SILVER AROUND 71200 SL BELOW 70800 TGT 71600/72000
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