MCX Gold is likely to trade with sideways to positive bias during today`s trading session- Monarch Networth Capital Ltd
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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.72200 - 71900 levels whereas resistance is at Rs.72800 - 73100 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.83000 - 82500 levels whereas resistance is at Rs.84000 - 84500 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 6780 - 6680 levels whereas resistance is at Rs. 7080 - 7180 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.825 – 820 levels whereas resistance is at Rs.834 - 839 levels.
Strategy: Intraday
* CRUDE OIL 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 6780 - 6680 level and resistance at 7080 - 7180. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6780 - 6680 levels on lower side.
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