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.71900 - 71600 levels whereas resistance is at Rs.72600 - 72900 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.83200 - 82600 levels whereas resistance is at Rs.84400 - 85000 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 7050 - 6950 levels whereas resistance is at Rs. 7250 - 7350 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 71900 - 71600 level and resistance at 72600 - 72900. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 72600 - 72900 levels on higher side.
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