GOLD prices traded with positive bias during last trading session - 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.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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