MCX Gold is likely to trade with sideways to positive bias during today’s trading session - Monarch Networth
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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.54000 - 53500 levels whereas resistance is at Rs.55000- 55600 levels.
MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71000 - 70400 levels whereas resistance is at Rs.72200 - 73000 levels.
MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.9500 - 9350 levels whereas resistance is at Rs. 9850 - 10000 levels.
MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.830 - 815 levels whereas resistance is at Rs.858 - 870 levels.
CHART OF THE DAY
Strategy: Intraday
NATURAL GAS prices traded with negative bias during the last trading session and it was trading below upward slopping trend line.
For Intraday session immediate support is at 342 - 335 level and resistance at 360 - 370. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 342 - 335 levels on lower side.
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