MCX Gold is likely to trade with positive bias during today`s trading session - Monarch Networth Capital Ltd
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.76100 - 75800 levels whereas resistance is at Rs.76600 – 76900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.87300 - 86300 levels whereas resistance is at Rs. 89400 - 90400 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5870 - 5810 levels whereas resistance is at Rs. 6000 - 6060 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.796 – 790 levels whereas resistance is at Rs.808 - 814 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 76100 – 75800 level and resistance at 76600 – 76900. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 76600 – 76900 levels on higher side.
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