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.56500 - 56300 levels whereas resistance is at Rs.57000 - 57200 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.66300 - 65800 levels whereas resistance is at Rs.67300 - 67800 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6920 - 6820 levels whereas resistance is at Rs. 7140 - 7240 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.695 – 690 levels whereas resistance is at Rs.705 - 710 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
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 6920 - 6820
level and resistance at 7140 - 7240. Any pullback towards
resistance level should be taken as selling opportunity
targeting im
