GOLD prices traded with mild 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.62200 - 62000 levels whereas resistance is at Rs.62600 - 62800 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.74500 - 74000 levels whereas resistance is at Rs.75500 - 76000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5920 - 5850 levels whereas resistance is at Rs. 6120 - 6200 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.722 – 717 levels whereas resistance is at Rs.730 - 735 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* GOLD prices traded with mild positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 62200 - 62000 level and resistance at 62600 - 62800. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 62600 - 62800 levels on higher side.
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