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MCX Copper is likely to trade with positive bias during today`s trading session - Monarch Networth Capital Ltd
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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.71100 - 70800 levels whereas resistance is at Rs.71700 – 72000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.82000 - 81000 levels whereas resistance is at Rs.84000 - 85000 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6280 - 6200 levels whereas resistance is at Rs. 6400 - 6470 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.796 – 790 levels whereas resistance is at Rs.807 - 813 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 71100 – 70800 level and resistance at 71700 – 72000. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 71700 – 72000 levels on higher side.
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