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.68100 - 67900 levels whereas resistance is at Rs.68500 - 68700 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.75100 - 74600 levels whereas resistance is at Rs.76000 - 76500 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6880 - 6780 levels whereas resistance is at Rs. 7080 - 7180 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.762 – 758 levels whereas resistance is at Rs.770 - 774 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with positive bias during the last trading session; and prices are trading above trend line.
* For Intraday session immediate support is at 6880 - 6780 level and resistance at 7080 - 7180. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 7080 - 7180 levels on higher side.
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