MCX Gold is likely to trade with sideways to positive bias during today`s trading session - Monarch Network 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.59000 - 58800 levels whereas resistance is at Rs.59400 - 59600 levels.
*MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.70500 - 70000 levels whereas resistance is at Rs.71500 - 72000 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.7140 - 7040 levels whereas resistance is at Rs. 7340 - 7440 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.696 – 692 levels whereas resistance is at Rs.704 - 708 levels.
CHART OF THE DAY
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session; but prices are trading below upward trend line.
* For Intraday session immediate support is at 696 - 692 level and resistance at 704 - 708. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 696 - 692 levels on lower side.
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