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MCX Silver is likely to trade with positive bias during today`s trading session - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.59300 - 59000 levels whereas resistance is at Rs.59900 - 60200 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.69600 - 69100 levels whereas resistance is at Rs.70700 - 71200 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.5700 - 5600 levels whereas resistance is at Rs. 5900 - 6000 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.778 - 772 levels whereas resistance is at Rs.788 - 794 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* GOLD 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 59300 - 59000 level and resistance at 59900 - 60200. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 59900 - 60200 levels on higher side
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