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.70400 - 70100 levels whereas resistance is at Rs.71000 – 71300 levels.
*MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.81000 - 80000 levels whereas resistance is at Rs.82000 - 83000 levels.
*MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6530 - 6450 levels whereas resistance is at Rs. 6600 - 6680 levels.
*MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.796 – 790 levels whereas resistance is at Rs.802 - 808 levels
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
*GOLD prices traded with negative bias during the last trading session; but prices are trading above upward trend line.
*For Intraday session immediate support is at 70400 – 70100 level and resistance at 71000 – 71300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 71000 – 71300 levels on higher side.
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