For Intraday session immediate support is at 59300 - 59000 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.59300 - 59000 levels whereas resistance is at Rs.59700 - 60000 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.68300 - 67800 levels whereas resistance is at Rs.69300 - 69800 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.5430 - 5330 levels whereas resistance is at Rs. 5630 - 5730 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.753 - 748 levels whereas resistance is at Rs.762 - 767 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 59300 - 59000 level and resistance at 59700 - 60000. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 59700 - 60000 levels on higher side.
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