Buy Gold Above 55200 SL Below 55050 TGT 55400/55600 - Axis Securities
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GOLD
Gold prices traded sideways in a flat range in last session as World Market was closed. Prices managed to closed above the strong resistance zone of 55180 and was up by almost 180 points which is a positive sign for prices. On daily chart momentum indicator RSI is above its reference line which is a positive sign. Short term trend is looking bulllish as it is trading above 20 and 60 days EMA on daily chart. Tradres can buy Gold above 55200 for the target of 55400 on intraday basis.
BUY GOLD ABOVE 55200 SL BELOW 55050 TGT 55400/55600
SILVER
Silver prices closed on a positive note in last session. It has up by more than 200 points and settled around 69560. On daily chart momentum indciator RSI is below its reference line which is a negative sign for prices. Prices from past few days is stuggling to sustain above 70000 level indicating supply zone near the mentioned level. On hourly chart it is trading below 20 EMA which is a negaive sign for prices. Trades can sell Silver around 70000 for the target of 69500 on intraday basis.
SELL SILVER MAR AROUND 70000 SL ABOVE 70400 TGT 69500/69200
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