MCX Silver is likely to trade with 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 positive bias during today’s trading session. Support is at Rs.71600 - 71300 levels whereas resistance is at Rs.72200 - 72500 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.82500 - 82000 levels whereas resistance is at Rs.83500 - 84000 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 7100 - 7000 levels whereas resistance is at Rs. 7300 - 7400 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.816 – 810 levels whereas resistance is at Rs.826 - 831 levels
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* GOLD 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 71600 - 71300 level and resistance at 72200 - 72500. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 72200 - 72500 levels on higher side.
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