For Intraday session immediate support is at 55600 - 55300 level - Monarch Networth Capital
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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.55600 - 55300 levels whereas resistance is at Rs.56200 - 56500 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.68100 - 67600 levels whereas resistance is at Rs.69100 - 69600 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6300 - 6200 levels whereas resistance is at Rs. 6500 - 6600 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.765 - 760 levels whereas resistance is at Rs.775 - 780 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* GOLD 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 55600 – 55300 level and resistance at 56200 - 56500. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 56200 - 56500 levels on higher side.
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