Buy Copper Above 717 SL Below 713 TGT 725/730 - Axis Securities
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Gold
MCX Gold opened on a flat note and remained in a Small range throughout the day. The hourly strength indicator RS] is moving downwards and is quoting below its reference line indicating negative bias. Gold continues to remained in a downtrend in the short to medium term, so selling on rallies continues to be our preferred strategy.
SELL GOLD BELOW 54450 SL ABOVE 54650 TGT 54200/54000
Copper
MCX Copper opened on a flat note and buying momentum throughout the session. The chart pattern suggests that if Copper crosses and sustains above 717 level it would witness buying which would push the price towards 725-730 levels. Important support for the day is around 712.
BUY COPPER ABOVE 717 SL BELOW 713 TGT 725/730
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