GOLD prices traded with positive bias during the last trading session and it was trading above upward slopping trend line - 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.53000 - 52700 levels whereas resistance is at Rs.54200- 54500 levels.
MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.69200 - 68700 levels whereas resistance is at Rs.71200 - 71800 levels
MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.8820 - 8650 levels whereas resistance is at Rs. 9820 - 10000 levels.
MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.830 - 815 levels whereas resistance is at Rs.860 - 875 levels.
CHART OF THE DAY
Strategy: Intraday
GOLD prices traded with positive bias during the last trading session and it was trading above upward slopping trend line
For Intraday session immediate support is at 53000 - 52700 level and resistance at 54200 - 54500. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 54200 - 54500 levels on higher side.
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