MCX Gold is likely to trade with sideways to negative bias during today`s trading session - Monarch 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.66000 - 65800 levels whereas resistance is at Rs.66300 - 66500 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.74000 - 73500 levels whereas resistance is at Rs.75000 - 75500 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6720 - 6620 levels whereas resistance is at Rs. 6920 - 7020 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.752 – 748 levels whereas resistance is at Rs.760 - 764 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 resistance trend line.
* For Intraday session immediate support is at 752 - 748 level and resistance at 760 - 764. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 752 - 748 levels on lower side.
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