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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.76300 - 76000 levels whereas resistance is at Rs.76900 – 77200 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.89000 - 88000 levels whereas resistance is at Rs.91000 - 92000 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5850 - 5750 levels whereas resistance is at Rs. 5950 - 6010 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.818 – 812 levels whereas resistance is at Rs.830 - 836 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 76300 – 76000 level and resistance at 76900 – 77200. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 76900 – 77200 levels on higher side.
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