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.62200 - 62000 levels whereas resistance is at Rs.62600 - 62800 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.75600 - 75100 levels whereas resistance is at Rs.76600 - 77100 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6050 - 5950 levels whereas resistance is at Rs. 6250 - 6350 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.716 – 712 levels whereas resistance is at Rs.724 - 728 levels.
CHART OF THE DAY MCX-CRUDE OIL (DAILY CHART) \
Strategy: Intraday
* CRUDE OIL 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 6050 - 5950 level and resistance at 6250 - 6350. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6050 - 5950 levels on lower side.
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