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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.71700 - 71500 levels whereas resistance is at Rs.72100 – 72300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.83000 - 82200 levels whereas resistance is at Rs.84500 - 85200 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5460 - 5400 levels whereas resistance is at Rs. 5600 - 5660 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.786 – 780 levels whereas resistance is at Rs.798 - 804 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 786 – 780 level and resistance at 798 – 804. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 798 – 804 levels on higher side.
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