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MCX Gold is likely to trade with positive bias during today`s trading session - Monach 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.62400 - 62200 levels whereas resistance is at Rs.62800 - 63000 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.77000 - 76500 levels whereas resistance is at Rs.78000 - 78500 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.6300 - 6200 levels whereas resistance is at Rs. 6500 - 6600 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.718 – 714 levels whereas resistance is at Rs.726 - 730 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 62400 - 62200 level and resistance at 62800 - 63000. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 62800 - 63000 levels on higher side.
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