MCX Gold is likely to trade with positive bias during today`s trading session. - Monarch Networth Capital Limited
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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.60300 - 60000 levels whereas resistance is at Rs.60900 - 61200 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.75700 - 75200 levels whereas resistance is at Rs.76800 - 77300 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.5800 - 5700 levels whereas resistance is at Rs. 6000 - 6100 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.734 - 729 levels whereas resistance is at Rs.744 - 749 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* GOLD prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 60300 - 60000 level and resistance at 60900 - 61200. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 60900 - 61200 levels on higher side.
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