MCX Gold is likely to trade with sideway to positive bias during today’s trading session - Monarch Networth Capital Ltd
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideway to positive bias during today’s trading session. Support is at Rs.47500 - 47300 levels whereas resistance is at Rs.47700- 47900 levels.
* MCX Silver is likely to trade with sideway to positive bias during today’s trading session. Support is at Rs.60800 - 60500 levels whereas resistance is at Rs.61300 - 61600 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5950 - 5900 levels whereas resistance is at Rs. 6050 - 6150 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.735 - 731 levels whereas resistance is at Rs.743 - 747 levels.
Strategy: Intraday
* NATURAL GAS 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 299 - 295 level and resistance at 312 - 316. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 312 – 316 levels on higher side.
MCX- NATURAL GAS (DAILY CHART)
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