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.59700 - 59400 levels whereas resistance is at Rs.60300 - 60600 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.74500 - 74000 levels whereas resistance is at Rs.75500 - 76000 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.6380 - 6280 levels whereas resistance is at Rs. 6580 - 6680 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.752 - 747 levels whereas resistance is at Rs.762 - 767 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below upward trend line.
* For Intraday session immediate support is at 752 - 747 level and resistance at 762 - 767. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 752 - 747 levels on lower side.
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