MCX Crude Oil is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital
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COMMODITY TECHNICALOUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.48000 levels whereas resistance is at Rs.48600- 48800 levels. Buying is advised above Rs.48400 levels for the target prices of Rs.48600 – 48800 levels
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.67500 levels whereas resistance is at Rs.69000 – 69500 levels. Buying is advised above Rs.68500 levels for the target prices of Rs.69000 – 69500 levels
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5380 levels whereas resistance is at Rs.5500 – 5550 levels. Buying above 5460 is advised targeting Rs.5500-5550 levels
* MCX Copper is likely to trade in a range bound until either side level is breached. Support is at Rs.750 levels whereas resistance is at Rs.765 levels.
CHART OF THE DAY
MCX- GOLD (DAILY CHART)
Strategy: Intraday
* GOLD prices traded with positive bias during the last trading session
* It is having a good support of upward trend line and sustaining above the same
* For Intraday session we expect GOLD prices to extend upside if price sustains above 48400 levels whereas 48000 and 47700 will act as an immediate support levels
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