MCX Gold is likely to trade with sideways to negative bias during today`s trading session - Monach networth capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.61500 - 61300 levels whereas resistance is at Rs.62000 - 62200 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.72000 - 71500 levels whereas resistance is at Rs.73000 - 73500 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5850 - 5780 levels whereas resistance is at Rs. 6000 - 6170 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.717 – 713 levels whereas resistance is at Rs.725 - 729 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 717 - 713 level and resistance at 725 - 729. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 725 - 729 levels on higher side.
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