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MCX Copper is likely to trade with sideways to negative 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.77700 - 77300 levels whereas resistance is at Rs.78300 – 78700 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.96000 - 94500 levels whereas resistance is at Rs.98000 - 99500 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5820 - 5720 levels whereas resistance is at Rs. 6020 - 6120 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.810 – 805 levels whereas resistance is at Rs.820 - 825 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 77700 – 77300 level and resistance at 78300 – 78700. Any pullback towards support level should be taken as buying opportunity targeting immediate
resistance of 78300 – 78700 levels on higher side.
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