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Gold

MCX Gold opened on a flat note and buying momentum throughout the session. The daily strength indicator RSI is moving upwards and is above its reference line indicating positive bias. Gold continues to remain in an uptrend for the intraday, so buying on dips continues to be our preferred strategy.

BUY GOLD ABOVE 70000 SL BELOW 69800 TGT 70300/70600

Copper

MCX Gold opened with an upward gap and remained in positive terrain throughout the day. The chart pattern suggests that if Gold crosses and sustains above 802 level it would witness buying which would push the price towards 808-812 levels. Important support for the day is around 794.

BUY COPPER ABOVE 802 SL BELOW 798 TGT 808/812

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