Buy Gold Above 48100 SL Below 48000 TGT 48200/48300- Axis Securities
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Gold
Gold prices edged higher in last trading session after prices broke the resistance zone of 47600 and rallied all the way up till 48000 level on intraday basis. Short term trend has turned positive for prices as it is trading above 9 and 20 days EMA and RSI is also above 60 level. Immediate resistance zine is seen around 48100 level. Breakout above the mentioned level may push prices higher towards 48200 on intraday basis.
BUY GOLD ABOVE 48100 SL BELOW 48000 TGT 48200/48300
Copper
Copper prices gave a gap down opening in last trading session but prices managed to recover from the strong support zone of of 725 and closed around 732 level on intraday basis. On daily chart it has formed a hammer candlestick pattern which is a reversal pattern. Traders can buy Copper above 432 for the target of 435 on intraday basis.
BUY COPPER ABOVE 732 SL BELOW 729 TGT 735/738
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