MCX Gold is likely to trade with sideways to positive bias during today’s trading session - Monarch Networth Capital Ltd
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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.48000 levels whereas resistance is at Rs.48300- 48500 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.61800 levels whereas resistance is at Rs.62500 – 62800 levels. Buying is advised above Rs.62500 levels for the target prices of Rs.62800 – 63000 levels
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5400 levels whereas resistance is at Rs.5520 – 5560 levels. Buying above 5520 is advised targeting Rs.5560-5580 levels
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.745 levels whereas resistance is at Rs.753- 756 levels. Buying above 753 is advised targeting Rs.756-758 levels
CHART OF THE DAY
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session
* It was closed above upward sloping trend line in intraday trading session
* For Intraday session immediate support is at 745 –742 level and resistance at 753 – 756. If price sustains above the immediate resistance level of 753 level then it will provide further momentum towards 756 – 758 levels on the higher side.
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