Buy Gold Above 47500 SL Below 47400 TGT 47600/47750 - Axis Securities
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Gold
Gold prices traded volatile in last trading session and it closed in red near 47400 LEVEL. On hourly chart we have observed that prices have formed hammer candlestick near the bottom of the rally which indicate that prices may reverse from the current level. Traders may buy Gold above 47500 level for the target of 47600.
BUY GOLD ABOVE 47500 SL BELOW 47400 TGT 47600/47750
Copper
Copper prices edged higher in last trading session after prices gave a gap up opening and it closed near the strong resistance zone of 751 level. On hourly chart prices closed above 9- and 20-days EMA and RSI is also above 60 level which indicate that momentum is strong for prices. Breakout above 751 may push prices higher towards 754 level on intraday basis.
BUY COPPER ABOVE 751 SL BELOW 749 TGT 754/757
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