MCX Gold is likely to trade with sideways to negative bias during today`s trading session - Monarch Networth Capital Ltd
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.75300 - 75000 levels whereas resistance is at Rs.75900 – 76200 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.86300 - 85300 levels whereas resistance is at Rs. 88400 - 89400 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 5870 - 5810 levels whereas resistance is at Rs. 6000 - 6060 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.790 – 784 levels whereas resistance is at Rs.800 - 806 levels.
CHART OF THE DAY
MCX- COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below upward trend line.
* For Intraday session immediate support is at 790 – 784 level and resistance at 800 – 806. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 790 – 784 levels on lower side.
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