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Gold prices traded with positive bias during the 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.57700 - 57500 levels whereas resistance is at Rs.58200 - 58400 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.69400 - 68800 levels whereas resistance is at Rs.70400 - 71000 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6150 - 6050 levels whereas resistance is at Rs. 6400 - 6500 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.776 - 772 levels whereas resistance is at Rs.785 - 789 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 57700 – 57500 level and resistance at 58200 - 58400. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 58200 - 58400 levels on higher side.
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