MCX Gold is likely to trade with sideways to negative bias during today trading session - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK:
* MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.62800 - 62600 levels whereas resistance is at Rs.63200 - 63400 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71800 - 71400 levels whereas resistance is at Rs.72600 - 73000 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 6180 - 6100 levels whereas resistance is at Rs. 6300 - 6380 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.722 – 718 levels whereas resistance is at Rs.730 - 734 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 6180 - 6100 level and resistance at 6300 - 6380. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6180 - 6100 levels on lower side.
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