Buy Copper Above 665 SL Below 660 TGT 671/675 - Axis Securities
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Gold
MCX Gold opened with a downward gap and traded with extreme volatility on either side and gained the bullish momentum at the second half of the session. The chart pattern suggests that if Gold crosses and sustains above 50750 level it would witness buying which would push the price towards 51000-51200 levels. Important support for the day is around 50500.
BUY GOLD ABOVE 50750 SL BELOW 50500 TGT 51000/51200
Copper
MCX Copper opened with a downward gap but witnessed buying in the second half of the session which pushed prices to day's high. The hourly strength indicator RSI is moving upwards and is above its reference line indicating positive bias. Copper continues to remain in an uptrend for the short term, so buying on dips continues to be our preferred strategy.
BUY COPPER ABOVE 665 SL BELOW 660 TGT 671/675
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