MCX Gold is likely to trade with positive bias during today’s trading session - 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.47400 - 47200 levels whereas resistance is at Rs.47900- 48100 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.60500 - 60000 levels whereas resistance is at Rs.61900 - 62400 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6470 - 6420 levels whereas resistance is at Rs. 6640 - 6690 levels.
* MCX Copper Feb is likely to trade with positive bias during today’s trading session. Support is at Rs.731 - 726 levels whereas resistance is at Rs.749 - 754 levels.
CHART OF THE DAY
Strategy: Intraday
* CRUDE OIL prices traded with negative bias during the last trading session but it was trading above downward slopping trend line.
* For Intraday session immediate support is at 6470 - 6420 level and resistance at 6640 - 6690. Any pullback towards support level should be taken as buying opportunity targeting immediate support of 6640– 6690 levels on higher side.
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