MCX Crude Oil is likely to trade with positive bias during today`s trading session - Monarch Networth Capital Ltd
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.60700 - 60400 levels whereas resistance is at Rs.61200 - 61500 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.72300 - 71700 levels whereas resistance is at Rs.73900 - 74500 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5750 - 5650 levels whereas resistance is at Rs. 5950 - 6050 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.724 - 720 levels whereas resistance is at Rs.733 - 737 levels.
Strategy: Intraday
* GOLD prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 60700 - 60400 level and resistance at 61200 - 61500. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 61200 - 61500 levels on higher side.
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