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.58300 - 58100 levels whereas resistance is at Rs.58700 - 58900 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.70500 - 70100 levels whereas resistance is at Rs.71300 - 71700 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.7400 - 7300 levels whereas resistance is at Rs. 7600 - 7700 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.733 - 730 levels whereas resistance is at Rs.741 - 744 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER 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 733 - 730 level and resistance at 741 - 744. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 741 - 744 levels on higher side.
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