MCX Gold is likely to trade with positive bias during today`s trading session. Support is at Rs.58600 - 58400 - Monarch Networth Capital
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.58600 - 58400 levels whereas resistance is at Rs.59000 - 59200 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.73000 - 72500 levels whereas resistance is at Rs.74000 - 74500 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6550 - 6450 levels whereas resistance is at Rs. 6750 - 6850 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.734 - 730 levels whereas resistance is at Rs.743 - 747 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* GOLD prices traded with mild negative bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 58600 - 58400 level and resistance at 59000 - 59200. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 59000 - 59200 levels on higher side.
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