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.49900 - 49700 levels whereas resistance is at Rs.50300- 50500 levels.
MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.63400 - 63000 levels whereas resistance is at Rs.64300 - 64600 levels.
MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6550 - 6480 levels whereas resistance is at Rs. 6850 - 6920 levels.
MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.760 - 756 levels whereas resistance is at Rs.769 - 774 levels
CHART OF THE DAY
Strategy: Intraday
CRUDE OIL 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 6550 - 6480 level and resistance at 6850 - 6920. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6550 - 6480 levels on lower side.
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