MCX Gold is likely to trade with sideway to positive bias during today’s trading session. Support is at Rs.47800 - 47600 levels - 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.47800 - 47600 levels whereas resistance is at Rs.48100- 48300 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.62800 - 62300 levels whereas resistance is at Rs.63800 - 64200 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6290 - 6250 levels whereas resistance is at Rs. 6380 - 6420 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.739 - 736 levels whereas resistance is at Rs.746 - 749 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 6290 - 6250 level and resistance at 6380 - 6420. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6380 – 6420 levels on higher side.
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