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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.46600 levels whereas resistance is at Rs.47100- 47300 levels. Buying above 47100 is advised targeting Rs.47300 – 47500 levels.

MCX Silver is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.60600 levels whereas resistance is at Rs.61300- 61800 levels.

MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5750 levels whereas resistance is at Rs.5930 – 6000 levels. Buying above 5930 is advised targeting Rs.6000 – 6030 levels.

MCX Copper is likely to trade sideways to negative bias during today’s trading session. Support is at Rs.701 levels whereas resistance is at Rs.719 – 727 levels.

CHART OF THE DAY MCX

GOLD (DAILY CHART)

Strategy: Intraday

GOLD prices traded with positive bias during last trading session

t was closed above downward sloping trend line in intraday trading session.

For Intraday session immediate support is at 46600 – 46300 level and resistance at 47100 – 47300. If price sustains above the immediate resistance level of 47100 level then it will provide further momentum towards 47300 - 47500 levels on the higher side.

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