Buy Gold Above 49150 Sl Below 49000 TGT 49400/49500 - Axis Securities Ltd
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GOLD
MCX Gold price has given a bullish breakout from symmetrical triangle pattern, price is expected to trade positively. Sustaining above 49150 next leg of the rally would push the price higher towards 49400/49500 levels in intraday. The momentum indicator RSI is trading at 73 it shows bullishness in the prices.
BUY GOLD ABOVE 49150 SL BELOW 49000 TGT 49400/49500
COPPER
MCX Copper price is trading near trend line support, price is expected to| trade negatively. Any breakdown below 745 would drag down the price lower towards 741/739 levels in intraday. As the price has been trading below 60&100 hourly EMA which is bearish sign for the prices.
SELL COPPER BELOW 745 SL ABOVE 749 TGT 741/739
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