MCX Gold is likely to trade with positive bias during todays 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.60000 - 59700 levels whereas resistance is at Rs.60500 - 60800 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.75000 - 74500 levels whereas resistance is at Rs.76000 - 76500 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6450 - 6350 levels whereas resistance is at Rs. 6650 - 6750 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.773 - 767 levels whereas resistance is at Rs.784 - 790 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* GOLD prices traded with negative bias during the last trading session; but prices are trading above upward trend line.
* For Intraday session immediate support is at 60000 - 59700 level and resistance at 60500 - 60800. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 60500 - 60800 levels on higher side.
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