MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.47700 - 47500 levels - Monarch Networth Capital Ltd
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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.47700 - 47500 levels whereas resistance is at Rs.48300- 48500 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.61300 - 60800 levels whereas resistance is at Rs.62400 - 62800 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.6440 - 6380 levels whereas resistance is at Rs. 6670 - 6730 levels.
* MCX Copper Feb is likely to trade with positive bias during today’s trading session. Support is at Rs.749 - 744 levels whereas resistance is at Rs.759 - 764 levels.
CHART OF THE DAY
Strategy: Intraday
* SILVER 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 61300 - 60800 level and resistance at 62400 - 62800. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 61300– 60800 levels on lower side.
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