MCX Gold is likely to trade with negative bias during today`s trading session. Support is at Rs.58200 - 58000 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.58200 - 58000 levels whereas resistance is at Rs.58800 - 59000 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.71400 - 71000 levels whereas resistance is at Rs.72200 - 72600 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.7450 - 7350 levels whereas resistance is at Rs. 7650 - 7750 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.708 – 704 levels whereas resistance is at Rs.716 - 720 levels.
CHART OF THE DAY MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER 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 708 - 704
level and resistance at 716 - 720. Any pullback towards
resistance level should be taken as selling opportunity
targeting immediate support of 708 - 704 levels on lower
side.
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