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MCX Gold is likely to trade with 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.72300 - 72000 levels whereas resistance is at Rs.72900 - 73200 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.83000 - 82500 levels whereas resistance is at Rs.83800 - 84300 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6780 - 6680 levels whereas resistance is at Rs. 7000 - 7100 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.834 – 830 levels whereas resistance is at Rs.843 - 849 levels.
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 72300 - 72000 level and resistance at 72900 - 73200. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 72900 - 73200 levels on higher side.
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