Buy Copper Above 650 SL BELOW 645 TGT 656/662 - Axis Securities
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GOLD
Gold prices gave a gap up opening and closed on a positive note in last session. On daily chart prices has formed bullish harami candlestick pattern which indicate possible reversal from current down trrend. Strong support zone in Gold is seen around 50000 level. As long as prices is trading above the strong support zone of 50000 levell. We expect some short covering from the current level. Traders can buy Gold around 50300 for the target of 50420 on intraday basis.
BUY GOLD AROUND 50300 SL BELOW 50200 TGT 50420/50550
COPPER
Copper price gave a gap up opening in last session. Prices failed to sustain near the day's high and it headed southwards and closed on a negative note around 649 level. Prices is stuck in a trading zone between 645 and 660 level from past few days. We expect prices to trade in a mentioned zone as long as the mentioned support and resistance zone is intact on weekly closing basis. Tradres can buy Copper above 650 for the target of 656 on intraday basis.
BUY COPPER ABOVE 650 SL BELOW 645 TGT 656/662
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