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.76300 - 76000 levels whereas resistance is at Rs.77900 – 78200 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.90600 - 89600 levels whereas resistance is at Rs.92600 - 93600 levels.
* MCX Crude Oil is likely to trade with sideways to negative 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 negative bias during today’s trading session. Support is at Rs.812 – 807 levels whereas resistance is at Rs.822 - 828 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER 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 812 – 807 level and resistance at 822 – 828. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 812 – 807 levels on lower side
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