MCX Gold is likely to trade with sideways to positive bias during today`s trading session. Support is at Rs.58700 - 58600 levels - 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.70900 - 70600 levels whereas resistance is at Rs.71400 - 71700 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.82300 - 81800 levels whereas resistance is at Rs.83300 - 83800 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6470 - 6370 levels whereas resistance is at Rs. 6670 - 6770 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.859 – 854 levels whereas resistance is at Rs.869 - 874 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 82300 - 81800 level and resistance at 83300 - 83800. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 83300 - 83800 levels on higher side.
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