MCX Gold is likely to trade with sideways to positive bias during today`s - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.59200 - 59000 levels whereas resistance is at Rs.59700 - 59900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.70600 - 70000 levels whereas resistance is at Rs.72000 - 72500 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.7160 - 7060 levels whereas resistance is at Rs. 7360 - 7460 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.694 – 690 levels whereas resistance is at Rs.703 - 707 levels.
CHART OF THE DAY
Strategy: Intraday
* COPPER 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 694 - 690 level and resistance at 703 - 707. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 694 - 690 levels on lower side
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