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.80000 - 79000 levels whereas resistance is at Rs.82000 - 83000 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6530 - 6450 levels whereas resistance is at Rs. 6780 - 6850 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.780 – 774 levels whereas resistance is at Rs.792 - 798 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* GOLD prices traded with mild negative bias during the last trading session; but 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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