MCX Gold is likely to trade with sideways to positive bias - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.50200 - 49900 levels whereas resistance is at Rs.50600 - 50900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.55000 - 54700 levels whereas resistance is at Rs.55800 - 56200 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.7670 - 7550 levels whereas resistance is at Rs. 7890 - 8000 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.617 - 612 levels whereas resistance is at Rs.630 - 635 levels.
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; but prices are trading above upward slopping trend line.
* For Intraday session immediate support is at 617 - 612 level and resistance at 630 - 635. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 630 - 635 levels on higher side.
GBPINR (DAILY CHART)
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