MCX Gold is likely to trade with sideways to positive bias -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.65600 - 65400 levels whereas resistance is at Rs.66100 - 66300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.74700 - 74300 levels whereas resistance is at Rs.75800 - 76300 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6480 - 6380 levels whereas resistance is at Rs. 6680 - 6780 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.747 – 742 levels whereas resistance is at Rs.756 - 761 levels.
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session; and prices are trading above downward trend line.
* For Intraday session immediate support is at 747 - 742 level and resistance at 756 - 761. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 756 - 761 levels on higher side.
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