Sell Gold Below 47450 SL Above 47600 TGT 47200/47100 - Axis Securities
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Gold
MCX Gold price has given negative break down from trend line, price is expected to trade negatively. Sustaining below 47450 would drag the price lower towards 47200/47100 levels intraday. The momentum indicator RSI is trading at 39 and it is forming lower lows which is a bearishness in the prices.
SELL GOLD BELOW 47450 SL ABOVE 47600 TGT 47200/47100
Nickel
MCX Nickel price has given negative breakout from symmetrical triangle pattern, price is expected to trade negatively. Any breakdown below 1533 would drag the price lower towards 1520/1515 levels intraday. The price has been trading below 100&60 hourly EMA which is a bearishness in the prices.
SELL NICKEL BELOW 1533 SL ABOVE 1540 TGT 1520/1515
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