MCX Gold is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.59700 - 59500 levels whereas resistance is at Rs.60300 - 60500 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71400 - 71000 levels whereas resistance is at Rs.72300 - 72800 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.5850 - 5750 levels whereas resistance is at Rs. 6050 - 6150 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.718 - 714 levels whereas resistance is at Rs.726 - 730 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 718 - 714 level and resistance at 726- 730. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 726 - 730 levels on higher side.
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