MCX Gold is likely to trade with sideways to positive bias during today`s trading session. Support is at Rs.58200 - 58000 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.58200 - 58000 levels whereas resistance is at Rs.58600 - 58800 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.68000 - 67500 levels whereas resistance is at Rs.69200 - 69700 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5640 - 5540 levels whereas resistance is at Rs. 5850 - 5950 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.713 - 709 levels whereas resistance is at Rs.722 - 726 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART
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 5640 -5540 level and resistance at 5850- 5950. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 5850 - 5950 levels on higher side.
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