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.63300 - 63100 levels whereas resistance is at Rs.63900 - 64100 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71600 - 71100 levels whereas resistance is at Rs.72900 - 72400 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6540 - 6440 levels whereas resistance is at Rs. 6740 - 6840 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.724 – 720 levels whereas resistance is at Rs.732 - 736 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 63300 - 63100 level and resistance at 63900 - 64100. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 63900 - 64100 levels on higher side.
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