MCX Gold is likely to trade with sideways to positive bias during today`s trading session- Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.58000 - 57800 levels whereas resistance is at Rs.58600 - 58800 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.69800 - 69400 levels whereas resistance is at Rs.70700 - 71100 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.5650 - 5550 levels whereas resistance is at Rs. 5850 - 5950 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.712 - 708 levels whereas resistance is at Rs.720 - 724 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* SILVER 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 69800 - 69400 level and resistance at 70700- 71100. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 70700 - 71100 levels on higher side.
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