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.71700 - 71400 levels whereas resistance is at Rs.72300 - 72600 levels.
* MCX Silver is likely to trade with sideways to negative bias during today`s trading session. Support is at Rs.88500 - 87500 levels whereas resistance is at Rs.90600 - 91600 levels.
* MCX Crude Oil is likely to trade with negative bias during today`s trading session. Support is at Rs. 6100 - 6040 levels whereas resistance is at Rs. 6260 - 6340 levels.
* MCX Copper is likely to trade with negative bias during today`s trading session. Support is at Rs.856 – 848 levels whereas resistance is at Rs.870 - 878 levels
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below upward trend line.
* For Intraday session immediate support is at 856 - 848 level and resistance at 870 - 878. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 856 - 848 levels on lower side.
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