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.46200 levels whereas resistance is at Rs.47600- 47800 levels. Buying is advised above Rs.47100 levels for the target prices of Rs.47600 – 47800 levels
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.66200 levels whereas resistance is at Rs.68800 – 69400 levels. Buying is advised above Rs.67800 levels for the target prices of Rs.68800 – 69400 levels
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5320 levels whereas resistance is at Rs.5500 – 5550 levels. Buying above 5450 is advised targeting Rs.5500-5550 levels
* MCX Copper looks strong if Rs.713 level is breached. Buying above Rs.713 is advised targeting Rs.720– 725 levels
CHART OF THE DAY
Strategy: Intraday
* NATURAL GAS prices traded with positive bias during the last trading session
* It took good support of upward sloping trend line and sustained above the same
* For Intraday session we expect NATURAL GAS prices to trade with positive bias if prices sustain above 243 levels whereas 235 and 232 will act as an immediate support levels
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