MCX Gold is likely to trade with positive bias during today`s trading session - Monarch Networth Capital
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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.72200 - 71900 levels whereas resistance is at Rs.72800 - 73100 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.89500 - 88500 levels whereas resistance is at Rs.91600 - 92600 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6100 - 6040 levels whereas resistance is at Rs. 6260 - 6340 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.862 – 854 levels whereas resistance is at Rs.878 - 886 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART
Strategy: Intraday
* SILVER 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 89500 - 88500 level and resistance at 91600 - 92600. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 91600 - 92600 levels on higher side.
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