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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.73700 - 73500 levels whereas resistance is at Rs.74300 – 74500 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 positive bias during today’s trading session. Support is at Rs. 5920 - 5850 levels whereas resistance is at Rs. 6050 - 6130 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.803 – 798 levels whereas resistance is at Rs.813 - 818 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 73700 – 73500 level and resistance at 74300 –74500. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 74300 – 74500 levels on higher side.
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