29-10-2024 09:17 AM | Source: Monarch Networth Capital Ltd
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.78300 - 78000 levels whereas resistance is at Rs.79000 – 79400 levels.

* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.96500 - 95000 levels whereas resistance is at Rs.99000 - 100000 levels.

* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 5650 - 5600 levels whereas resistance is at Rs. 5820 - 5900 levels.

* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.832 – 826 levels whereas resistance is at Rs.844 - 850 levels.

CHART OF THE DAY

MCX-CRUDE OIL (DAILY CHART)

 

Strategy: Intraday

* COPPER prices traded with mild positive bias during the last trading session; but prices are trading below downward trend line.

* For Intraday session immediate support is at 832 – 826 level and resistance at 844 – 850. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 832 – 826 levels on lower side

 

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