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.76600 - 76300 levels whereas resistance is at Rs.77200 – 77500 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.91200 - 90200 levels whereas resistance is at Rs. 93300 - 94300 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5860 - 5800 levels whereas resistance is at Rs. 6000 - 6060 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.816 – 810 levels whereas resistance is at Rs.825 - 831 levels.
CHART OF THE DAY
MCX- SILVER (DAILY CHART)
Strategy: Intraday
* SILVER prices traded with positive bias during the last trading session; and prices are trading above downward trend line.
* For Intraday session immediate support is at 91200 – 90200 level and resistance at 93300 – 94300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 93300 – 94300 levels on higher side.
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