MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.47600 - 47400 levels - 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.47600 - 47400 levels whereas resistance is at Rs.48100- 48300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.60800 - 60400 levels whereas resistance is at Rs.62000 - 62400 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6480 - 6430 levels whereas resistance is at Rs. 6650 - 6700 levels.
* MCX Copper Feb is likely to trade with positive bias during today’s trading session. Support is at Rs.739 - 735 levels whereas resistance is at Rs.757 - 761 levels.
CHART OF THE DAY
Strategy: Intraday
* CRUDE OIL prices traded with positive bias during the last trading session and it was trading above downward slopping trend line.
* For Intraday session immediate support is at 6480 - 6430 level and resistance at 6650 - 6700. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6650– 6700 levels on higher side.
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