Sell Copper Below 744 SL Above 750 TGT 737/733 - Axis Securities
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Gold
MCX Gold opened with an upward gap and witnessed selling for the first part of the session. The hourly strength indicator RSI has turned negative from the overbought territory and is below its reference ine indicating sustained downtrend. Gold is trading below 20&60 hourly SMA indicating negative bias in the intraday.
SELL GOLD IN THE RANGE OF 50700-50750 SL ABOVE 50950 TGT 50400/50200
Copper
MCX Copper opened with an upward gap but witnessed selling from the opening tick to end on a negative note, The chart pattern suggests that if Copper breaks and sustains below 744 level it would witness selling which would drag It towards 737-733 levels. Important Resistances for the day are placed at 750.
SELL COPPER BELOW 744 SL ABOVE 750 TGT 737/733
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