MCX Gold is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital Ltd
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.76300 - 76000 levels whereas resistance is at Rs.76900 – 77200 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.91400 - 90400 levels whereas resistance is at Rs. 93400 - 94400 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 5660 - 5600 levels whereas resistance is at Rs. 5800 - 5860 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.815 – 809 levels whereas resistance is at Rs.827 - 833 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 downward trend line.
* For Intraday session immediate support is at 5660 – 5600 level and resistance at 5800 – 5860. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 5660 – 5600 levels on lower side.
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SEBI Registration Number : INZ000043833
