MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.51400 - 51200 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.51400 - 51200 levels whereas resistance is at Rs.51800 - 52000 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.58000 - 57700 levels whereas resistance is at Rs.58700 - 59000 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.7740 - 7640 levels whereas resistance is at Rs. 7940 - 8060 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.652 - 646 levels whereas resistance is at Rs.664 - 670 levels.
Strategy: Intraday
* GOLD prices traded with positive bias during the last trading session; and prices are trading above downward slopping trend line.
* For Intraday session immediate support is at 51400 - 51200 level and resistance at 51800 - 52000. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 51800 - 52000 levels on higher side.
MCX- GOLD (DAILY CHART)
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