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.71300 - 71100 levels whereas resistance is at Rs.71500 - 71700 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.80200 - 79700 levels whereas resistance is at Rs.81200 - 81700 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6890 - 6790 levels whereas resistance is at Rs. 7090 - 7190 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.853 – 848 levels whereas resistance is at Rs.863 - 868 levels.
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 853 - 848 level and resistance at 863 - 868. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 863 - 868 levels on higher side.
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