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.71400 - 71100 levels whereas resistance is at Rs.72000 – 72300 levels.
*MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.83700 - 82700 levels whereas resistance is at Rs.85600 - 86600 levels.
*MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6080 - 6000 levels whereas resistance is at Rs. 6220 - 6300 levels.
*MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.794 – 786 levels whereas resistance is at Rs.806 - 812 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 upward trend line.
*For Intraday session immediate support is at 71400 – 71100 level and resistance at 72000 – 72300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 72000 – 72300 levels on higher side.
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