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.65800 - 65600 levels whereas resistance is at Rs.66100 - 66300 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.75800 - 75400 levels whereas resistance is at Rs.76500 - 77000 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6650 - 6550 levels whereas resistance is at Rs. 6850 - 6950 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.750 – 746 levels whereas resistance is at Rs.760 - 764 levels.
CHART OF THE DAY
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 65800 - 65600 level and resistance at 66100 - 66300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 66100 - 66300 levels on higher side.
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Benchmark index is likely to trade with mild positive bias today - Monarch Networth Capital Ltd
