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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.72800 - 72500 levels whereas resistance is at Rs.73400 - 73700 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.86500 - 86000 levels whereas resistance is at Rs.87500 - 88000 levels.
* MCX Crude Oil is likely to trade with sideways to 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 positive bias during today’s trading session. Support is at Rs.886 – 881 levels whereas resistance is at Rs.896 - 901 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 886 - 881 level and resistance at 896 - 901. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 896 - 901 levels on higher side.
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