Gold prices traded with positive bias during the last trading session - Monarch Networth Capital Ltd
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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.56100 - 55900 levels whereas resistance is at Rs.56500 - 56700 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.69000 - 68600 levels whereas resistance is at Rs.69900 - 70300 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6350 - 6250 levels whereas resistance is at Rs. 6550 - 6650 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.768 - 762 levels whereas resistance is at Rs.778 - 784 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 56100 – 55900 level and resistance at 56500 - 56700. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 56500 - 56700 levels on higher side.
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