Buy Copper Below 711 SL Above 716 TGT 706/700 - Axis Securities
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Gold
MCX Gold opened on a flat note and buying momentum throughout the session let it trade near the day's high.The chart pattern suggests that if Gold crosses and sustains above 58650 level it would witness buying which would push the price towards 59000- 59200 levels. Important support for the day is around 58300.
BUY GOLD ABOVE 58650 SL BELOW 58450 TGT 59000/59200
Copper
MCX Copper opened sharply lower with a downward gap and selling pressure throughout the session.Copper is trading below 20 hourly EMA indicating negative bias in the intraday. Copper continues to remain in a downtrend in the short to medium term, so selling on rallies continues to be our preferred strategy.
BUY COPPER BELOW 711 SL ABOVE 716 TGT 706/700
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