GOLD prices traded with positive bias during the last trading session - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.48600 levels whereas resistance is at Rs.49600- 49800 levels. Buying is advised above Rs.49200 levels for the target prices of Rs.49600 – 49800 levels
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71000 levels whereas resistance is at Rs.72800 – 73500 levels. Buying is advised above Rs.72200 levels for the target prices of Rs.72800 – 73500 levels
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5020 levels whereas resistance is at Rs.5180 – 5230 levels. Buying above 5150 is advised targeting Rs.5180-5230 levels
* MCX Copper looks strong if Rs.745 level is breached. Buying above Rs.745 is advised targeting Rs.755– 760 levels
CHART OF THE DAY
Strategy: Intraday
* GOLD prices traded with positive bias during the last trading session
* It is having a support of upward sloping trend line and sustaining above the same
* For Intraday session we expect GOLD prices to trade with positive bias if price sustains above 49200 levels whereas 48800 and 48600 will act as an immediate support levels
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