Sell Gold Below 49700 SL Above 49900 TGT 49400/49200 - Axis Securities
Gold
Gold opened sharply lower downward gap and selling pressure GOLD HOURLY CHART the session dragged it to lower. The chart pattern that if Gold breaks and below 49700 level it would selling which would drag It 49400-49200 level. Important resistance for the day is placed at 50050
SELL GOLD BELOW 49700 SL ABOVE 49900 TGT 49400/49200
Crudeoil
MCX Crudeoil opened sharply lower 350 with a downward gap and extended soo selling momentum in the first half.Crudeoil continues to remain in a downtrend in the intraday, so selling on rallies continues to be our preferred strategy. Crudeoil is trading below 20 hourly 5MA indicating negative bias in the short to medium term.
SELL CRUDEOIL BELOW 7600 SL ABOVE 7800 TGT 7370/7300
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