MCX Gold is likely to trade with negative bias during today’s trading session. Support is at Rs.47300 - 47100 levels - 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.47500- 47700 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.60300 - 60000 levels whereas resistance is at Rs.60800 - 61100 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5750 - 5700 levels whereas resistance is at Rs.5860 - 5910 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.729 - 726 levels whereas resistance is at Rs.741 - 744 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 294 - 290 level and resistance at 307 - 311. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 307 – 311 levels on higher side.
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