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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.77300 - 77000 levels whereas resistance is at Rs.78000 – 78300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.94400 - 93400 levels whereas resistance is at Rs.96500 - 97500 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5780 - 5720 levels whereas resistance is at Rs. 5920 - 5980 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.816 – 810 levels whereas resistance is at Rs.828 - 834 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 77300 – 77000 level and resistance at 78000 – 78300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 78000 – 78300 levels on higher side.
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