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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.63200 - 63000 levels whereas resistance is at Rs.63600 - 63800 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.74600 - 74200 levels whereas resistance is at Rs.75600 - 76000 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.5980 - 5900 levels whereas resistance is at Rs. 6120 - 6200 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.730 – 726 levels whereas resistance is at Rs.738 - 742 levels
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* SILVER 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 74600 - 74200 level and resistance at 75600 - 76000. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 74600 - 74000 levels on lower side.
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