MCX Gold is likely to trade with negative bias during today’s trading session - Monarch Networth Capital Ltd
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with negative bias during today’s trading session. Support is at Rs.47300 - 47100 levels whereas resistance is at Rs.47600- 47800 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.60200 - 59800 levels whereas resistance is at Rs.60900 - 61300 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.5800 - 5750 levels whereas resistance is at Rs.5900 - 5950 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.736 - 733 levels whereas resistance is at Rs.742 - 746 levels.
CHART OF THE DAY
Strategy: Intraday
* NATURAL GAS 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 288 - 284 level and resistance at 297 - 304. Any pullback towards support level should be taken as buying opportunity targeting immediate support of 297 – 304 levels on higher side.
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