Buy Gold Above 47000 Sl Below 46800 TGT 47300/47400 - Axis Securities Ltd
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GOLD
MCX Gold price is forming support near the trend line, price remains to trade positively. Sustaining above 47000 next leg of the rally would push the price higher towards 47300/47400 levels in coming sessions. Price has formed multiple supports near 46700 which shows price reversal.
BUY GOLD ABOVE 47000 SL BELOW 46800 TGT 47300/47400.
COPPER
MCX Copper price is failing to trade above 770 level, price is expected to trade negatively. Sustaining below 766.30 would drag down the price lower towards 761/759 levels in intraday.The hourly momentum indicator RSI is trading at 58 and it is failing to trade above 60 levels which shows bearish reversal.
SELL COPPER IN THE RANGE OF 766.40-766.90 SL ABOVE 771 TGT 761/759
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