For Intraday session immediate support is at 62200 - 62000 level and resistance at 62700 - 62900 - 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.62200 - 62000 levels whereas resistance is at Rs.62700 - 62900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.75000 - 74500 levels whereas resistance is at Rs.76000 - 76500 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6100 - 6020 levels whereas resistance is at Rs. 6260 - 6340 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.722 – 718 levels whereas resistance is at Rs.730 - 734 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* GOLD prices traded with mild negative bias during the last trading session; but prices are trading above upward trend line.
* For Intraday session immediate support is at 62200 - 62000 level and resistance at 62700 - 62900. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 62700 - 62900 levels on higher side.
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