MCX Gold is likely to trade with positive bias during today`s trading session - Monarch Networth Capital Ltd
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.60800 - 60600 levels whereas resistance is at Rs.61200 - 61400 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71100 - 70700 levels whereas resistance is at Rs.71800 - 72300 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6850 - 6750 levels whereas resistance is at Rs. 7050 - 7150 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.696 – 692 levels whereas resistance is at Rs.704 - 708 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 60800 - 60600 level and resistance at 61200 - 61400. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 61200 - 61400 levels on higher side.
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