MCX Gold is likely to trade with positive bias during today`s trading session. -Monarch Networth Capital
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.65800 - 65600 levels whereas resistance is at Rs.66200 - 66400 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.73700 - 73200 levels whereas resistance is at Rs.74700 - 75200 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6360 - 6260 levels whereas resistance is at Rs. 6560 - 6660 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.727 – 722 levels whereas resistance is at Rs.736 - 739 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 downward trend line.
* For Intraday session immediate support is at 65800 - 65600 level and resistance at 66200 - 66400. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 66200 - 66400 levels on higher side.
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