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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.76000 - 75700 levels whereas resistance is at Rs.76600 – 76900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.92000 - 91000 levels whereas resistance is at Rs.94000 - 95000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6100 - 6040 levels whereas resistance is at Rs. 6250 - 6320 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.846 – 840 levels whereas resistance is at Rs.860 - 866 levels.
CHART OF THE DAY
MCX-CCRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with positive bias during the last trading session; and prices are trading above downward trend line.
* For Intraday session immediate support is at 6100 – 6040 level and resistance at 6250 – 6320. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6250 – 6320 levels on higher side.
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