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.77100 - 76800 levels whereas resistance is at Rs.77800 – 78100 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.94000 - 93000 levels whereas resistance is at Rs. 96200 - 97200 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5760 - 5700 levels whereas resistance is at Rs. 5900 - 5960 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.824 – 818 levels whereas resistance is at Rs.836 - 842 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 upward trend line.
* For Intraday session immediate support is at 94000 – 93000 level and resistance at 96200 – 97200. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 96200 – 97200 levels on higher side.
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