MCX Gold is likely to trade with sideway to positive bias during today’s trading session. Support is at Rs.48400 - 48200 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.48400 - 48200 levels whereas resistance is at Rs.48700- 48900 levels.
* MCX Silver is likely to trade with sideway to positive bias during today’s trading session. Support is at Rs.63300 - 63000 levels whereas resistance is at Rs.64800 - 65100 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6110 - 6060 levels whereas resistance is at Rs. 6390 - 6450 levels.
* MCX Copper Feb is likely to trade with negative bias during today’s trading session. Support is at Rs.743 - 737 levels whereas resistance is at Rs.755 - 762 levels.
CHART OF THE DAY
Strategy: Intraday
* CRUDE OIL prices traded with negative bias during the last trading session and it was trading below downward slopping trend line.
* For Intraday session immediate support is at 6110 - 6060 level and resistance at 6390 - 6450. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6110– 6060 levels on lower side.
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