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.79000 - 78700 levels whereas resistance is at Rs.79600 – 79900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.98800 - 97800 levels whereas resistance is at Rs.100000 - 100100 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 5600 - 5550 levels whereas resistance is at Rs. 5740 - 5800 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 79000 – 78700 level and resistance at 79600 – 79900. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 79600 – 79900 levels on higher side.
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