MCX Gold is likely to trade with positive bias during today`s trading session -Monarch Networth Capital
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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.64900 - 64600 levels whereas resistance is at Rs.65400 - 65700 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.73700 - 73200 levels whereas resistance is at Rs.74700 - 75200 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6480 - 6380 levels whereas resistance is at Rs. 6680 - 6780 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.726 – 722 levels whereas resistance is at Rs.734 - 738 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 downward trend line.
* For Intraday session immediate support is at 64900 - 64600 level and resistance at 65400 - 65700. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 65400 - 65700 levels on higher side.
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