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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.70000 - 69700 levels whereas resistance is at Rs.70300 – 70600 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.83500 - 82500 levels whereas resistance is at Rs.84600 - 85600 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6500 - 6420 levels whereas resistance is at Rs. 6580 - 6660 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.806 – 800 levels whereas resistance is at Rs.814 - 820 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 70000 – 69700 level and resistance at 70300 – 70600. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 70300 – 70600 levels on higher side.
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