MCX Gold is likely to trade with positive bias during today`s trading session. Support is at Rs.59500 - 59300 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.59500 - 59300 levels whereas resistance is at Rs.60000 - 60300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.75900 - 75400 levels whereas resistance is at Rs.76900 - 77400 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.6080 - 5980 levels whereas resistance is at Rs. 6280 - 6380 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.718 - 714 levels whereas resistance is at Rs.726 - 730 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* GOLD prices traded with a mild positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 59500 59300 level and resistance at 60000- 60300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 60000 - 60300 levels on higher side.
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