Buy Gold Above 48550 Sl Below 48400 TGT 48850/49000 - Axis Securities Ltd
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GOLD
MCX Gold price is trading inside the rising trend line channel, price remains to trade positively. Any breakout above 48550 next leg of the rally would push the price higher towards 48850/49000 levels in intraday. The price is yet trading above 60&100 hourly EMA which is a bullish sign for the prices.
BUY GOLD ABOVE 48550 SL BELOW 48400 TGT 48850/49000
COPPER
MCX Copper price sustained lower since strong support level breakout, Price is expected to trade negatively. Any breakdown below 754 next leg of the correction would drag down the price lower towards 748/744 levels in intraday. The momentum indicator RSI is trading at 31 it shows bearishness in the prices.
SELL COPPER BELOW 754 SL ABOVE 758 TGT 748/744
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