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GOLD

MCX Gold price has formed strong support near 50% retracement level, price is expected to trade positively. Any breakout above 47660 next leg of the rally would push the price higher towards 47800/47900 levels in intraday. The price has been trading above 100 hourly EMA which is positive sign for the prices. 

BUY GOLD ABOVE 47660 SL BELOW 47550 TGT 47800/47900

SILVER

MCX Silver price is trading inside the rising trend line channel, price remains to trade positively. Any breakout above 71800 next leg of the correction would push the price higher towards 72400/72800 levels in intraday. The momentum indicator RSI] is trading at 48 and it failed to trade below 40.

BUY SILVER ABOVE 71800 SL BELOW 71300 TGT 72400/72800

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