Sell Gold In The Range Of 47900-48000 SL Above 48200 TGT 47600/47500 - Axis Securities
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GOLD
MCX Gold price has given a negative breakout, price is expected to trade negatively. Any small recovery near 47900-48000 levels can be seen for fresh selling for the downside targets of 47600/47500 levels in intraday. The momentum indicator RSI is trading at 22 and it is forming lower lows which is a negative sign for the prices.
SELL GOLD IN THE RANGE OF 47900-48000 SL ABOVE 48200 TGT 47600/47500
SILVER
MCX Silver price has given a negative breakout, price is expected to trade negatively. Sustaining below 61300 would drag the price lower towards 60600/60200 levels intraday. The price has started trading below 9,21&60 hourly EMA which is a bearishness in the prices.
SELL SILVER BELOW 61300 SL ABOVE 61800 TGT 60600/60200
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