Sell Gold Below 59500 SL Above 59700 TGT 59200/59100 - Axis Securities
Gold
MCX Gold opened on a flat note and remained in a small range throughout the day. The chart pattern suggests that if Gold breaks and sustains below 59500 level it would witness selling which would drag the price towards 59200 - 59100 levels. Important resistance for the day is placed at 60100.
SELL GOLD BELOW 59500 SL ABOVE 59700 TGT 59200/59100
Silver
MCX Silver opened on a flat note and remained in a small range throughout the day. The daily strength indicator RSI is moving downwards and is quothinng below its reference line indicating negative bias. Silver continues to remain in a downtrend in the shrt to medium term, so selling on rallies continues to be our preferred strategy.
SELL SILVER BELOW 73100 SK ABOVE 73800 TGT 72100/71500
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