Sell Gold Below 47700 SL Above 47800 TGT 47550/47400 - Axis Securities
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Gold
MCX Gold price has been trading under consolidation range, price is expected to trade sideways to negative. Any breakdown below 47700 would drag down the price lower towards 47550/47400 levels intraday. The hourly momentum indicator RSI is trading at 52 and it has been consolidating between 56-40 range.
SELL GOLD BELOW 47700 SL ABOVE 47800 TGT 47550/47400
Copper
MCX Copper price is trading inside the symmetrical triangle pattern, Price is expected to trade negatively. Any breakdown below 721 would drag down the price lower towards 717/714 levels in intraday. The price has started trading below 9,21&60 hourly EMA which is a bearish sign for the prices.
SELL COPPER BELOW 721 SL ABOVE 724 TGT 717/714
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