MCX Gold is likely to trade with sideways to positive bias during today`s trading session. Support is at Rs.50600 - 50400 levels whereas resistance is at Rs.51100 - 51300 levels - 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.50600 - 50400 levels whereas resistance is at Rs.51100 - 51300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.60100 - 59600 levels whereas resistance is at Rs.61000 - 61500 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.7440 - 7340 levels whereas resistance is at Rs. 7650 - 7750 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.678 - 672 levels whereas resistance is at Rs.688 - 694 levels.
CHART OF THE DAY :
Strategy: Intraday
* CRUDE OIL 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 7440 – 7340 level and resistance at 7650 - 7750. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 7650 – 7750 levels on higher side.
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