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.59000 - 58800 levels whereas resistance is at Rs.59400 - 59600 levels.
MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.71000 - 70500 levels whereas resistance is at Rs.72000 - 72500 levels.
MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.7100 - 7000 levels whereas resistance is at Rs. 7300 - 7400 levels.
MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.696 – 692 levels whereas resistance is at Rs.704 - 708 levels.ding session. Support is at Rs.71000 - 70500 levels whereas resistance is at Rs.72000 - 72500 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 59000 - 58800 level and resistance at 59400 - 59600. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 59400 - 59600 levels on higher side.
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