MCX Gold is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.72300 - 72000 levels whereas resistance is at Rs.73000 - 73300 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.84500 - 84000 levels whereas resistance is at Rs.85500 - 86000 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 6450 - 6350 levels whereas resistance is at Rs. 6650 - 6750 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.865 – 860 levels whereas resistance is at Rs.875 - 880 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with negative bias during the last trading session; and prices are trading below downward trend line.
* For Intraday session immediate support is at 6450 - 6350 level and resistance at 6650 - 6750. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6450 - 6350 levels on lower side.
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