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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.64500 - 64200 levels whereas resistance is at Rs.65100 - 65400 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.72800 - 72300 levels whereas resistance is at Rs.73800 - 74300 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6380 - 6280 levels whereas resistance is at Rs. 6580 - 6680 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.722 – 718 levels whereas resistance is at Rs.730 - 734 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 64500 - 64200 level and resistance at 65100 - 65400. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 65100 - 65400 levels on higher side.
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