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.76800 – 77100 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.87800 - 86800 levels whereas resistance is at Rs. 89800 - 90900 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 5970 - 5910 levels whereas resistance is at Rs. 6100 - 6160 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.800 – 794 levels whereas resistance is at Rs.812 - 818 levels.
CHART OF THE DAY
MCX- CRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL 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 5970 – 5910 level and resistance at 6100 – 6160. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6100 – 6160 levels on higher side.
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