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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.76100 - 75800 levels whereas resistance is at Rs.76700 – 77000 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.91800 - 90800 levels whereas resistance is at Rs.93800 - 94800 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5950 - 5850 levels whereas resistance is at Rs. 6050 - 6150 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.860 – 854 levels whereas resistance is at Rs.872 - 878 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
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 860 – 854 level and resistance at 872 – 878. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 872 – 878 levels on higher side.
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