MCX Gold is likely to trade with negative bias during today`s trading session. Support is at Rs.76200 - 75900 levels whereas resistance is at Rs.76800 – 77100 levels - Monarch Networth Capital Ltd
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with negative bias during today’s trading session. Support is at Rs.76200 - 75900 levels whereas resistance is at Rs.76800 – 77100 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.91300 - 90300 levels whereas resistance is at Rs. 93300 - 94300 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 5750 - 5700 levels whereas resistance is at Rs. 5860 - 5910 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.814 – 808 levels whereas resistance is at Rs.826 - 832 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 76200 – 75900 level and resistance at 76800 – 77100. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 76200 – 75900 levels on lower side.
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