NATURAL GAS prices traded with positive bias during last 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.47600 levels whereas resistance is at Rs.48100- 48300 levels. Buying above 48100 is advised targeting Rs. 48300 – 48400 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.60900 levels whereas resistance is at Rs.61900- 62300 levels. Buying above 61900 is advised targeting Rs. 62300 – 62600 levels.
* MCX Crude Oil is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.4960 levels whereas resistance is at Rs.5160 – 5200 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.719 levels whereas resistance is at Rs.731 – 735 levels. Selling below 719 is advised targeting Rs. 715 – 712 levels.
Strategy: Intraday
* NATURAL GAS prices traded with positive bias during last trading session
* But it was closed below downward sloping trend line in intraday trading session
* For Intraday session immediate support is at 313 –305 level and resistance at 326 – 334. If price sustains below the immediate support level of 313 level then it will provide further momentum towards 305 – 300 levels on the lower side.
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