Buy Gold Above 50350 Sl Below 50100 TGT 50650/50800 - Axis Securities
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Gold
MCX Gold price has turned U shape recovery, price may trade higher once it closes above it's previous high. Any breakout above 50350 would push the price higher towards 50650/50800 levels intraday. The price has started trading above 9,21&60 hourly EMA which is a bullishness in the prices.
BUY GOLD ABOVE 50350 SL BELOW 50100 TGT 50650/50800
Natural Gas
MCX Natural gas price has exhausted after strong Dullish rally, price expected to trade negatively. Any break down below 343 would drag the price lower towards 333/327 levels in intraday. The hourly momentum indicator RSI is trading at 51 and it is forming lower lows which is a bearishness in the prices.
SELL NATURAL GAS BELOW 343 SL ABOVE 350 TGT 333/327
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