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.77300 - 77000 levels whereas resistance is at Rs.77900 – 78200 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.89000 - 88000 levels whereas resistance is at Rs.91000 - 92000 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5950 - 5900 levels whereas resistance is at Rs. 6100 - 6160 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.800 – 794 levels whereas resistance is at Rs.811 - 816 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 77300 – 77000 level and resistance at 77900 – 78200. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 77900 – 78200 levels on higher side.
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