MCX Crude Oil is likely to trade with sideways to negative bias during today`s trading session - Monarch Networth Capital Ltd
Commodity Technical Outlook
* MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.76500 - 76200 levels whereas resistance is at Rs.77100 – 77400 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.88600 - 88000 levels whereas resistance is at Rs. 90800 - 91400 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 5920 - 5860 levels whereas resistance is at Rs. 6040 - 6100 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.801 – 795 levels whereas resistance is at Rs.813 - 819 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 76500 – 76200 level and resistance at 77100 – 77400. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 77100 – 77400 levels on higher side.
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