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.59100 - 58800 levels whereas resistance is at Rs.59600 - 59900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.75500 - 75000 levels whereas resistance is at Rs.76500 - 77000 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6100 - 6000 levels whereas resistance is at Rs. 6300 - 6400 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.736 - 732 levels whereas resistance is at Rs.744 - 748 levels.
CHART OF THE DAYMCX-COPPER
(DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with negative bias during the last trading session; but prices are trading above upward trend line.
* For Intraday session immediate support is at 6100 -6000 level and resistance at 6300- 6400. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6100 - 6000 levels on lower side.
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