MCX Gold is likely to trade with sideways to positive 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 positive bias during today’s trading session. Support is at Rs.51000 - 50600 levels whereas resistance is at Rs.51500- 51800 levels.
MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.64200 - 63800 levels whereas resistance is at Rs.64900 - 65500 levels.
MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.7900 - 7750 levels whereas resistance is at Rs. 8100 - 8250 levels.
MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.781 - 775 levels whereas resistance is at Rs.793 - 799 levels.
CHART OF THE DAY
Strategy: Intraday
CRUDE OIL prices traded with positive bias during the last trading session; prices are trading above upward slopping trend line.
For Intraday session immediate support is at 7900 - 7750 level and resistance at 8100 - 8250. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 8100 - 8250 levels on higher side.
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