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.74700 - 74400 levels whereas resistance is at Rs.75300 – 75600 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.89500 - 88500 levels whereas resistance is at Rs.91500 - 92500 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5770 - 5700 levels whereas resistance is at Rs. 5900 - 5970 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.797 – 791 levels whereas resistance is at Rs.810 - 816 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 74700 – 74400 level and resistance at 75300 – 75600. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 75300 – 75600 levels on higher side.
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