MCX Gold is likely to trade with sideway to positive bias during today’s trading session. Support is at Rs.48300 - 48100 levels - Monarch Networth Capital Ltd
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideway to positive bias during today’s trading session. Support is at Rs.48300 - 48100 levels whereas resistance is at Rs.48500- 48700 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.64700 - 64300 levels whereas resistance is at Rs.65800 - 66300 levels.
* MCX Crude Oil is likely to trade with sideway to negative bias during today’s trading session. Support is at Rs.6320 - 6260 levels whereas resistance is at Rs. 6460 - 6520 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.754 - 750 levels whereas resistance is at Rs.766 - 770 levels.
CHART OF THE DAY
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session and it was trading above upward slopping trend line.
* For Intraday session immediate support is at 754 - 750 level and resistance at 766 - 770. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 766 – 770 levels on higher side.
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