MCX Silver is likely to trade with positive bias during today`s trading session - Monarch Network Capital
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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.59700 - 59500 levels whereas resistance is at Rs.60200 - 60400 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.71200 - 70700 levels whereas resistance is at Rs.72300 - 72800 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.7160 - 7060 levels whereas resistance is at Rs. 7360 - 7460 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.696 – 692 levels whereas resistance is at Rs.705 - 709 levels.
CHART OF THE DAY
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 59700 - 59500 level and resistance at 60200 - 60400. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 60200 - 60400 levels on higher side.
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