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MCX Gold is likely to trade with negative bias during today`s trading session. Support is at Rs.56600 - 56400 levels - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK:
* MCX Gold is likely to trade with negative bias during today’s trading session. Support is at Rs.56600 - 56400 levels whereas resistance is at Rs.57300 - 57500 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.68300 - 67800 levels whereas resistance is at Rs.69300 - 69800 levels.
*MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.7320 - 7220 levels whereas resistance is at Rs. 7520 - 7520 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.700 – 696 levels whereas resistance is at Rs.709 - 713 levels.
CHART OF THE DAY:
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* GOLD prices traded with negative bias during the last trading session; and prices are trading below upward trend line.
* For Intraday session immediate support is at 56600 - 56400 level and resistance at 57300 - 57500. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 56600 - 56400 levels on lower side.
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