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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.75900 - 75700 levels whereas resistance is at Rs.76400 – 76600 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.88100 - 87100 levels whereas resistance is at Rs. 90100 - 91100 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5850 - 5800 levels whereas resistance is at Rs. 5960 - 6020 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.792 – 786 levels whereas resistance is at Rs.798 - 804 levels.
CHART OF THE DAY
MCX- GOLD (DAILY CHART)
Strategy: Intraday
* GOLD prices traded with mild negative bias during the last trading session; but prices are trading above upward trend line.
* For Intraday session immediate support is at 75900 – 75700 level and resistance at 76400 – 76600. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 76400 – 76600 levels on higher side.
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