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.60600 - 60400 levels whereas resistance is at Rs.61000 - 61200 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.70700 - 70200 levels whereas resistance is at Rs.72000 - 72500 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6680 - 6580 levels whereas resistance is at Rs. 6870 - 6970 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 - 715 levels.
CHART OF THE DAY
Strategy: Intraday
* GOLD prices traded with negative bias during the last trading session; but prices are trading above downward trend line.
* For Intraday session immediate support is at 60600 - 60400 level and resistance at 61000 - 61200. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 61000 - 61200 levels on higher side
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