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.47800 levels whereas resistance is at Rs.48200- 48400 levels. Buying above 48200 is advised targeting Rs. 48400 – 48600 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.64400 levels whereas resistance is at Rs.65200- 65600 levels. Buying above 65200 is advised targeting Rs. 65600 – 66000 levels.
* MCX Crude Oil is likely to trade sideways to with negative bias during today’s trading session. Support is at Rs.6020 levels whereas resistance is at Rs.6100 – 6140 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.732 levels whereas resistance is at Rs.744 – 750 levels. Buying above 744 is advised targeting Rs. 750 – 754 levels.
CHART OF THE DAY
Strategy: Intraday
* GOLD prices traded with positive bias during last trading session
* It was closed above upward sloping trend line in intraday trading session.
* For Intraday session immediate support is at 47800 – 47600 level and resistance at 48200 – 48400. If price sustains above the immediate resistance level of 48200 level then it will provide further momentum towards 48400 – 48600 levels on the higher side.
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