MCX Gold is likely to trade with sideway to negative bias during today’s trading session. Support is at Rs.47800 - 47600 - Monarch Networth Capital Ltd
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideway to negative bias during today’s trading session. Support is at Rs.47800 - 47600 levels whereas resistance is at Rs.48000- 48200 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.61700 - 61300 levels whereas resistance is at Rs.62100 - 62300 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6220 - 6170 levels whereas resistance is at Rs. 6300 - 6350 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.739 - 734 levels whereas resistance is at Rs.748 - 753 levels.
CHART OF THE DAY
Strategy: Intraday
* CRUDE OIL prices traded with positive bias during the last trading session and it was trading above upward slopping trend line.
* For Intraday session immediate support is at 6220 - 6170 level and resistance at 6300 - 6350. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6300 – 6350 levels on higher side.
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