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.70600 - 70300 levels whereas resistance is at Rs.71200 - 71500 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.81300 - 80600 levels whereas resistance is at Rs.82300 - 83000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 7070 - 6970 levels whereas resistance is at Rs. 7260 - 7360 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.810 – 805 levels whereas resistance is at Rs.821 - 826 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 trend line.
* For Intraday session immediate support is at 70600 - 70300 level and resistance at 71200 - 71500. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 71200 - 71500 levels on higher side.
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