Buy Gold Around 57100 SL Below 56900 TGT 57300/57500 - Axis Securities
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GOLD
Gold prices opened on a negative note in last session and settled around 52275 level. On daily chart momentum indicator RSI is trading above 60 level mark which indicate that momentum is strong for prices. On daily chart prices is trading above 20 and 60 days EMA which is a bullish sign. Strong support zone is seen around 57000 level. Traders can buy Gold on dips around 57100 level for the target of 57300 on intraday basis.
BUY GOLD AROUND 57100 SL BELOW 56900 TGT 57300/57500
SILVER
Silver prices closed on a negative note in last session. Prices settled around 68330 and it was down by more than 400 points. Momentum indicator RSI is trading below its reference line which is a negative sign for prices. It is not able to sustain above 69000 level from past few days which indicate supply zone near the mentioned level. Traders can sell Silver on rallies around 68800 for the target of 68500 on intraday basis
SELL SILVER AROUND 68800 SL ABOVE 69100 TGT 68500/68200
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