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.57700 - 57500 levels whereas resistance is at Rs.58200 - 58400 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.69000 - 68500 levels whereas resistance is at Rs.70000 - 70500 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6900 - 6800 levels whereas resistance is at Rs. 7100 - 7200 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.698 – 694 levels whereas resistance is at Rs.708 - 712 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below upward trend line.
* For Intraday session immediate support is at 698 - 694 level and resistance at 708 - 712. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 698 - 694 levels on lower side.
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