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MCX Crude Oil 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.68900 - 68600 levels whereas resistance is at Rs.69400 – 69700 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.81500 - 80500 levels whereas resistance is at Rs.83600 - 84600 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6180 - 6100 levels whereas resistance is at Rs. 6350 - 6430 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.789 – 784 levels whereas resistance is at Rs.800 - 805 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 68900 – 68600 level and resistance at 69400 – 69700. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 69400 – 69700 levels on higher side.
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