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.54500 - 54300 levels whereas resistance is at Rs.55000 - 55200 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.68400 - 68000 levels whereas resistance is at Rs.69100 - 69500 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6150 - 6050 levels whereas resistance is at Rs. 6350 - 6450 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.701 - 696 levels whereas resistance is at Rs.711 - 716 levels.
CHART OF THE DAY
Strategy: Intraday
* SILVER 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 68400 – 68000 level and resistance at 69100 - 69500. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 69100 - 69500 levels on higher side.
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