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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.73200 - 73000 levels whereas resistance is at Rs.73700 – 74000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.88600 - 87600 levels whereas resistance is at Rs.90600 - 91600 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5820 - 5760 levels whereas resistance is at Rs. 5950 - 6010 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.803 – 797 levels whereas resistance is at Rs.814 - 820 levels.
CHART OF THE DAY
MCX-COPPER (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 803 – 797 level and resistance at 814 –820. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 814 – 820 levels on higher side.
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