MCX Gold is likely to trade with sideways to positive bias during today`s trading session- Monarch Networth Capital Ltd
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.78700 - 78400 levels whereas resistance is at Rs.79300 – 79600 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.94800 - 93800 levels whereas resistance is at Rs. 96900 - 97900 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5850 - 5780 levels whereas resistance is at Rs. 6000 - 6070 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.824 – 818 levels whereas resistance is at Rs.835 - 841 levels.
CHART OF THE DAY
MCX- SILVER (DAILY CHART)
Strategy: Intraday
* SILVER 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 94800 – 93800 level and resistance at 96900 – 97900. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 96900 – 97900 levels on higher side.
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SEBI Registration Number : INZ000043833
