MCX Gold is likely to trade with sideways to positive bias during today`s trading session. Support is at Rs.59100 - 58800 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.59100 - 58800 levels whereas resistance is at Rs.59600 - 59900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.73500 - 73000 levels whereas resistance is at Rs.74500 - 75000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6480 - 6380 levels whereas resistance is at Rs. 6690 - 6790 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.740 - 736 levels whereas resistance is at Rs.749 - 753 levels.
CHART OF THE DAY
MCX-COPPER (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 6480 - 6380 level and resistance at 6690 - 6790. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6690 - 6790 levels on higher side.
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