MCX Gold is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital
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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.72000 - 71700 levels whereas resistance is at Rs.72700 - 73000 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.94500 - 93600 levels whereas resistance is at Rs.96400 - 97300 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6550 - 6450 levels whereas resistance is at Rs. 6740 - 6840 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.900 – 892 levels whereas resistance is at Rs.916 - 924 levels.
CHART OF THE DAY
MCX-CRUDE OIL (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 94500 - 93600 level and resistance at 96400 - 97300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 96400 - 97300 levels on higher side.
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