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MCX Gold is likely to trade with positive bias during today`s trading session - Monarch Networth Capital Ltd
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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.61000 - 60800 levels whereas resistance is at Rs.61400 - 61600 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71200 - 70700 levels whereas resistance is at Rs.72300 - 72800 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.7050 - 6950 levels whereas resistance is at Rs. 7250 - 7350 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.702 – 698 levels whereas resistance is at Rs.710 - 714 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 61000 - 60800 level and resistance at 61400 - 61600. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 61400 - 61600 levels on higher side.
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