MCX Gold is likely to trade with sideways to negative bias during today`s trading session - Monarch Networth Capital Ltd
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.60200 - 59900 levels whereas resistance is at Rs.60800 - 61100 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.74800 - 74300 levels whereas resistance is at Rs.75800 - 76300 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6590 - 6490 levels whereas resistance is at Rs. 6790 - 6890 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.776 - 772 levels whereas resistance is at Rs.786 - 790 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
* SILVER prices traded with positive bias during the last trading session; but prices are trading below upward trend line.
* For Intraday session immediate support is at 74800 - 74300 level and resistance at 75800 - 76300. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 74800 - 74300 levels on lower side
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