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MCX Gold is likely to trade with positive bias during today’s trading session - Monarch Networth Capital
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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.73300 - 73000 levels whereas resistance is at Rs.73900 – 74200 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.88200 - 87200 levels whereas resistance is at Rs.90000 - 91000 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 5720 - 5660 levels whereas resistance is at Rs. 5840 - 5900 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.796 – 790 levels whereas resistance is at Rs.808 - 814 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
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 796 – 790 level and resistance at 808 –814. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 808 – 814 levels on higher side.
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