Sell Gold Below 52350 Sl Above 52600 Tgt 52000/51800 - Axis Securities
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Gold
MCX Gold opened with an upward Sa200 gap and remained lackluster within a narrow trading range throughout the day. The chart pattern suggests that if Gold breaks and sustains below 52350 level it would witness selling which would lead the It towards 52000-51800 levels. Important Resistances for the day are placed at 52700.
SELL GOLD BELOW 52350 SL ABOVE 52600 TGT 52000/51800
Copper
MCX Copper opened on a flat note _ 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 line indicating sustained downtrend. Copper is trading below 20,60&100 hourly SMA indicating bearishness in the prices.
SELL COPPER IN THE RANGE OF 815.20-815.70 SL ABOVE 821 TGT 810/804
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