MCX Gold is likely to trade with sideways to negative bias during today’s trading session - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.52500 - 52200 levels whereas resistance is at Rs.53200- 53500 levels.
MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.68100 - 67300 levels whereas resistance is at Rs.70000 - 70700 levels.
MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.7700 - 7500 levels whereas resistance is at Rs. 8170 - 8360 levels.
MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.817 - 809 levels whereas resistance is at Rs.836 - 845 levels.
CHART OF THE DAY
Strategy: Intraday
SILVER prices traded with negative bias during the last trading session and it was trading below upward slopping trend line.
For Intraday session immediate support is at 68100 - 67300 level and resistance at 70000 - 70700. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 68100 - 67300 levels on lower side.
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