MCX Gold is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital Ltd
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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.71000 - 70800 levels whereas resistance is at Rs.71500 - 71700 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.80200 - 79700 levels whereas resistance is at Rs.81000 - 81500 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6820 - 6720 levels whereas resistance is at Rs. 7020 - 7120 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.847 – 842 levels whereas resistance is at Rs.856 - 861 levels.
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 847 - 842 level and resistance at 856 - 861. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 856 - 861 levels on higher side.
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