MCX Gold is likely to trade with sideways to positive bias during today’s trading session - Monarch Networth Capital
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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.50400 - 49900 levels whereas resistance is at Rs.51400- 52000 levels.
MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.65500 - 64100 levels whereas resistance is at Rs.68200 - 69500 levels.
MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.7500 - 7380 levels whereas resistance is at Rs. 8290 - 8430 levels.
MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.812 - 807 levels whereas resistance is at Rs.823 - 828 levels.
CHART OF THE DAY
Strategy: Intraday
NATURAL GAS prices traded with negative bias during the last trading session and it was trading below downward slopping trend line.
For Intraday session immediate support is at 402 - 395 level and resistance at 418 - 424. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 402 - 395 levels on lower side.
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