Sell Copper Below 856 SL ABOVE 861 TGT 850/846 - Axis Securities Ltd
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Gold
MCX Gold opened on a flat note and witnessed extreme volatility on either side for most part of the session. The chart pattern suggests that if Gold breaks and sustains below 71600 level it would witness selling which would drag the price towards 71200-71000 levels. Important resistance for the day is placed at 72250.
SELL GOLD BELOW 71600 SL ABOVE 71900 TGT 71200/71000
Copper
MCX Copper opened on a flat note and witnessed selling for most part of the session. The price is moving in a Lower Top and Lower Bottom formation on the daily chart indicating negative bias. Copper continues to remain in a downtrend in the short to medium term, so selling on rallies continues to be our preferred strategy.
SELL COPPER BELOW 856 SL ABOVE 861 TGT 850/846
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