MCX Copper is likely to trade with sideways to 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.69600 - 69300 levels whereas resistance is at Rs.70200 – 70500 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.79600 - 78600 levels whereas resistance is at Rs.81600 - 82600 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6350 - 6250 levels whereas resistance is at Rs. 6550 - 6650 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.772 – 766 levels whereas resistance is at Rs.782 - 788 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 69600 – 69300 level and resistance at 70200 – 70500. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 70200 – 70500 levels on higher side.
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