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.58200 - 58000 levels whereas resistance is at Rs.58700 - 58900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71100 - 69600 levels whereas resistance is at Rs.71700 - 72200 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6560 - 6460 levels whereas resistance is at Rs. 6780 - 6880 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.725 - 721 levels whereas resistance is at Rs.733 - 737 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
* COPPER prices traded with positive bias during the last trading session; and prices are trading above lower channel trend line.
* For Intraday session immediate support is at 725 -721 level and resistance at 733 - 737. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 733 - 737 levels on higher side.
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