MCX Gold is likely to trade with sideways to positive bias during today`s trading session. Support is at Rs.51400 - 51200 levels whereas resistance is at Rs.51900 - 52100 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.51400 - 51200 levels whereas resistance is at Rs.51900 - 52100 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.61500 - 61000 levels whereas resistance is at Rs.62500 - 63000 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.7250 - 7150 levels whereas resistance is at Rs. 7450 - 7550 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.672 - 668 levels whereas resistance is at Rs.682 - 686 levels.
CHART OF THE DAY:
Strategy: Intraday
* COPPER 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 672 – 668 level and resistance at 682 - 686. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 682 – 686 levels on higher side.
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