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Sell Copper Below 648.50 SL Above 652 TGT 641/637 - Axis Securities
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Gold
MCX Gold opened sharply lower with a downward gap and selling pressure throughout the session. The chart pattern suggests that if Gold breaks and sustains below 50000 level it would witness selling which would drag the price towards 49800-49700 levels. Important Resistances for the day is placed at 50500.
SELL GOLD BELOW 50000 SL ABOVE 50150 TGT 49800/49700
Copper
MCX Copper opened on a flat note and witnessed selling for most part of the session. The hourly strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias.Copper continues to remain in a downtrend in the short to medium term, so selling on rallies continues to be our
preferred strategy.
SELL COPPER BELOW 648.50 SL ABOVE 652 TGT 641/637
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