04-06-2024 09:17 AM | Source: Monarch Networth Capital Ltd
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.71900 - 71600 levels whereas resistance is at Rs.72500 - 72800 levels.

* MCX Silver is likely to trade with sideways to positive bias during today`s trading session. Support is at Rs.91000 - 9000 levels whereas resistance is at Rs.93000 - 94000 levels.

* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 6100 - 6040 levels whereas resistance is at Rs. 6260 - 6340 levels

* MCX Copper is likely to trade with sideways to positive bias during today`s trading session. Support is at Rs.872 – 866 levels whereas resistance is at Rs.888 - 896 levels.

CHART OF THE DAY

MCX-CRUDE OIL (DAILY CHART)

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Strategy: Intraday

* CRUDE OIL prices traded with negative bias during the last trading session; and prices are trading below downward trend line.

* For Intraday session immediate support is at 6100 - 6040 level and resistance at 6260 - 6340. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6100 - 6040 levels on lower side

 

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