``Gold prices are trading weak after breaking the support of Rs 11,605 and given a sharp fall touching the level of Rs 11,490``, Dharmesh Bhatia, technical analyst from Kotak Commodity Services said.
Selling on rise is recommended as it is likely to see slight pull back in today`s intraday session. One can sell Gold December futures at Rs 11,585-605 with a stop loss of Rs 11,683 and target of Rs 11,403, he added.
Silver futures also witnessed bearish trend tracking gold futures. Silver December futures have broken the support of Rs 16,515 and declined further touching new low of Rs 16,000. It is advisable to take short position at Rs 16,351-391 and stop loss of Rs 16,498 and target of Rs 16,005 a kg.
Copper futures have taking a strong support of Rs 183-181. The resistance for the same can be seen at Rs 189. In his opinion, Copper November futures are expected to retreat from current level hence selling at Rs 189-191 with a stop loss of Rs 194 and target of 184 is suggested.
