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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.60500 - 60300 levels whereas resistance is at Rs.61000 - 61200 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.72300 - 71800 levels whereas resistance is at Rs.73200 - 73700 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6450 - 6350 levels whereas resistance is at Rs. 6650 - 6750 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.712 – 708 levels whereas resistance is at Rs.720 - 724 levels.
CHART OF THE DAY
Strategy: Intraday
* COPPER 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 712 - 708 level and resistance at 720 - 724. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 720 - 724 levels on higher side
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