Sell Gold Around 47450 SL Above 47600 TGT 47300/47200 - Axis Securities
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GOLD
Gold prices edged lower in the morning sesssion as prices failed to sustain near the immediate resistance zone of 47450 level and drifted lower towards 47270 level. On hourly chart prices closed below 20 and 9 days EMA which is a negative sign for prices. Any rallies towards 47450 can be used as an selling opportunity for the target of 47300 on intraday basis.
SELL GOLD AROUND 47450 SL ABOVE 47600 TGT 47300/47200
NATURAL GAS
Natural gas prices drifted lower in the morning trading session after prices failed to sustain around 286 .However strong support zone is seen around 283 level. On hourly chart prices is trading below 20 and 60 days EMA and RSI is also around 40 level which is a negative sign for prices. Breakdown below 283 level may push prices lower towards 280 on intraday basis
SELL NATURAL GAS BELOW 283 SL ABOVE 286 TGT 280/277
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