MCX Gold is likely to trade with sideways to positive bias during today trading session - Monarch Networth Capital
COMMODITY TECHNICAL OUTLOOK:
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.61800 - 61600 levels whereas resistance is at Rs.62200 - 62400 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.70500 - 70000 levels whereas resistance is at Rs.71500 - 72000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6100 - 6020 levels whereas resistance is at Rs. 6250 - 6330 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.712 – 708 levels whereas resistance is at Rs.720 - 724 levels.
Strategy: Intraday:
* CRUDE OIL prices traded with negative bias during the last trading session; but prices are trading above upward trend line.
* For Intraday session immediate support is at 6100 - 6020 level and resistance at 6250 - 6330. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6250 - 6330 levels on higher side
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