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GOLD

MCX Gold price is trading near the resistance line of descending broadening wedge pattern, price is expected to trade positively. Any breakout above 47950 next leg of the rally would push the price higher towards 48150/48300 levels in intraday. The price has been forming support near 100 hourly EMA which shows bullishnss is price.

BUY GOLD ABOVE 47950 SL BLOW 47800 TGT 48150/48300

NICKEL

MCX Nickel price has seen strong pullback after testing several supports near trendline, price is expected to trade positively. Any breakout above  next leg of the rally would push the price higher towards 1226/1232 levels in intraday. The hourly momentum indicator RSI is trading at 1219 52 and it has given a bullish divergence.

BUY NICKEL ABOVE 1216 SL BELOW 1208 TGT 1226/1232

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