MCX Gold is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital Ltd
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.58400 - 58200 levels whereas resistance is at Rs.58800 - 59000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71500 - 71000 levels whereas resistance is at Rs.72500 - 73000 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6530 - 6430 levels whereas resistance is at Rs. 6750 - 6850 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.729 - 725 levels whereas resistance is at Rs.737 - 741 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 lower channel trend line.
* For Intraday session immediate support is at 729 -725 level and resistance at 737 - 741. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 737 - 741 levels on higher side.
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