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.60700 - 60500 levels whereas resistance is at Rs.61100 - 61300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.70700 - 70200 levels whereas resistance is at Rs.72000 - 72500 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.6800 - 6700 levels whereas resistance is at Rs. 7000 - 7100 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.706 – 702 levels whereas resistance is at Rs.714 - 718 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 706 - 702 level and resistance at 714 - 718. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 714 - 718 levels on higher side.
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