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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.63400 - 63200 levels whereas resistance is at Rs.63800 - 64000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.75100 - 74600 levels whereas resistance is at Rs.76100 - 76600 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6130 - 6050 levels whereas resistance is at Rs. 6280 - 6350 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.736 – 732 levels whereas resistance is at Rs.744 - 748 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 upward trend line.
* For Intraday session immediate support is at 63400 - 63200 level and resistance at 63800 - 64000. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 63800 - 64000 levels on higher side.
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