MCX Naturalgas opened on a flat note and buying momentum throughout the session - Axis Securities Ltd
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MCX Gold
opened with an upward gap but witnessed selling from the opening tick to end on a negative note. The daily strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. Gold continues to remain in a downtrend in the short to medium term,so selling on rallies continues to be our preferred strategy.
MCX Naturalgas
opened on a flat note and buying momentum throughout the session. The price is moving in a Higher Top and Higher Bottom formation on the hourly chart indicating sustained up trend. Naturalgas continues to remain in an uptrend for the short term, so buying on dips continues to be our aes preferred strategy.
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