MCX Gold is likely to trade with sideways to positive bias during today`s - 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.55300 - 55100 levels whereas resistance is at Rs.55700 - 55900 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.63500 - 63000 levels whereas resistance is at Rs.64500 - 65000 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.6150 - 6050 levels whereas resistance is at Rs. 6350 - 6450 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.750 - 745 levels whereas resistance is at Rs.760 - 765 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
* SILVER prices traded with negative bias during the last trading session; and prices are trading below downward trend line.
* For Intraday session immediate support is at 63500 - 63000 level and resistance at 64500 - 65000. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 63500 - 63000 levels on lower side.
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