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.66200 - 66000 levels whereas resistance is at Rs.66600 - 66800 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.74100 - 73600 levels whereas resistance is at Rs.75100 - 75600 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6670 - 6570 levels whereas resistance is at Rs. 6880 - 6980 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.755 – 751 levels whereas resistance is at Rs.763 - 767 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with negative bias during the last trading session; but prices are trading above trend line.
* For Intraday session immediate support is at 6670 - 6570 level and resistance at 6880 - 6980. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6880 - 6980 levels on higher side.
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