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.61200 - 61000 levels whereas resistance is at Rs.61600 - 61800 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.71400 - 71000 levels whereas resistance is at Rs.72300 - 72700 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5700 - 5630 levels whereas resistance is at Rs. 5880 - 5950 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.712 – 707 levels whereas resistance is at Rs.720 - 725 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 61200 - 61000 level and resistance at 61600 - 61800. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 61600 - 61800 levels on higher side.
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