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.58400 - 58200 levels whereas resistance is at Rs.58800 - 59000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71000 - 70600 levels whereas resistance is at Rs.71800 - 72200 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.7260 - 7160 levels whereas resistance is at Rs. 7480 - 7580 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.728 - 725 levels whereas resistance is at Rs.736 - 740 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with mild positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 728 - 724 level and resistance at 736 - 740. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 736 - 740 levels on higher side.
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