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.58600 - 58400 levels whereas resistance is at Rs.59000 - 59200 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.72700 - 72300 levels whereas resistance is at Rs.73500 - 73900 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.7390 - 7290 levels whereas resistance is at Rs. 7590 - 7690 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.715 - 711 levels whereas resistance is at Rs.723 - 727 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
* SILVER prices traded with mild negative bias during the last trading session; but prices are trading above upward trend line.
* For Intraday session immediate support is at 72700 -
72300 level and resistance at 73500 - 73900. Any pullback
towards support level should be taken as buying
opportunity targeting immediate resistance of 73500 -
73900 levels on higher side
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