13-08-2024 09:10 AM | Source: Monarch Networth Capital Ltd
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.70400 - 70100 levels whereas resistance is at Rs.71000 – 71300 levels.

* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.80600 - 79600 levels whereas resistance is at Rs.82600 - 83600 levels.

* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6580 - 6480 levels whereas resistance is at Rs. 6780 - 6880 levels.

* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.784 – 778 levels whereas resistance is at Rs.796 - 802 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 70400 – 70100 level and resistance at 71000 – 71300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 71000 – 71300 levels on higher side.

 

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