MCX Gold is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital Ltd
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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.60500 - 60300 levels whereas resistance is at Rs.61000 - 61200 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.72700 - 72300 levels whereas resistance is at Rs.73700 - 74100 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6230 - 6130 levels whereas resistance is at Rs. 6440 - 6540 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.708 – 704 levels whereas resistance is at Rs.716 - 720 levels.
CHART OF THE DAY
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 708 - 704 level and resistance at 716 - 720. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 716 - 720 levels on higher side.
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