MCX Gold is likely to trade with sideways to negative bias during today`s trading session - Monarch Networth Capital
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.63100 - 62900 levels whereas resistance is at Rs.63500 - 63700 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.73800 - 73400 levels whereas resistance is at Rs.74700 - 75100 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.5860 - 5780 levels whereas resistance is at Rs. 6000 - 6080 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.726 – 722 levels whereas resistance is at Rs.734 - 738 levels
CHART OF THE DAY
Strategy: Intraday
* SILVER prices traded with negative bias during the last trading session; and prices are trading below downward trend line.
* For Intraday session immediate support is at 73800 - 73400 level and resistance at 74700 - 75100. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 73800 - 73400 levels on lower side.
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SEBI Registration Number : INZ000043833
