Buy Gold Above 47100 Sl Below 46900 TGT 47350/47500 - Axis Securities Ltd
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GOLD
MCX Gold price has seen positive divergence after strong selling, price is expected to trade positively. Any breakout above 47100 would push the price higher towards 47350/47500 levels in intraday. The hourly momentum indicator RSI is trading at 47 and it is forming higher highs with positive divergence which shows bullishness in the prices.
BUY GOLD ABOVE 47100 SL BELOW 46900 TGT 47350/47500
CUDEOIL
MCX Crude oil price is facing resistance near 5360 and failing to break, price is expected to trade negatively. Any fall below 5290 would drag down the price lower towards 5220/5200 levels in intraday. The momentum indicator RSI is trading at54 and it is forming lower lows which is bearish sign for the prices.
SELL CUDE OIL BELOW 5290 SL ABOVE 5340 TGT 5220/5200
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