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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.72300 - 72100 levels whereas resistance is at Rs.73000 - 73300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.91700 - 90700 levels whereas resistance is at Rs.93700 - 94700 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6780 - 6680 levels whereas resistance is at Rs. 6980 - 7080 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.864 – 858 levels whereas resistance is at Rs.874 - 879 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with neutral bias during the last trading session; but prices are trading below downward trend line.
* For Intraday session immediate support is at 864 – 858 level and resistance at 874 – 879. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 864 – 858 levels on lower side.
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