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.79300 - 79000 levels whereas resistance is at Rs.80000 – 80300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.96500 - 95000 levels whereas resistance is at Rs.99000 - 10000 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5700 - 5640 levels whereas resistance is at Rs. 5830 - 5900 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.839 – 833 levels whereas resistance is at Rs.851 - 857 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 79300 – 79000 level and resistance at 80000 – 80300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 80000 – 80300 levels on higher side.
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