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.76800 - 76500 levels whereas resistance is at Rs.77400 – 77700 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.91000 - 90000 levels whereas resistance is at Rs.92500 - 93500 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5850 - 5800 levels whereas resistance is at Rs. 5950 - 6000 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.809 – 803 levels whereas resistance is at Rs.820 - 826 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 76800 – 76500 level and resistance at 77400 – 77700. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 77400 – 77700 levels on higher side.
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