MCX Gold is likely to trade with sideways to positive bias during today’s trading session
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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.47700 levels whereas resistance is at Rs.48400- 48600 levels. MCX Silver is likely to trade with mild positive bias during today’s trading session. Support is at Rs.62000 - 61700 levels whereas resistance is at Rs.62600 - 62900 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5600 - 5550 levels whereas resistance is at Rs.5700 - 5750 levels
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.750 - 745 levels whereas resistance is at Rs.760 - 764 levels.
CHART OF THE DAY
Strategy: Intraday
* CRUDEOIL prices traded with positive bias during the last trading session and it is trading above horizontal trend line.
* For Intraday session immediate support is at 5600 - 5550 level and resistance at 5700 - 5750. Any pullback towards horizontal support level should be taken as buying opportunity targeting immediate resistance of 5700 – 5750 levels on higher side.
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