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.60400 - 60200 levels whereas resistance is at Rs.60800 - 61000 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.71400 - 70900 levels whereas resistance is at Rs.72400 - 72900 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.7250 - 7150 levels whereas resistance is at Rs. 7450 - 7550 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.694 – 690 levels whereas resistance is at Rs.703 - 707 levels.
CHART OF THE DAY
Strategy: Intraday
* GOLD prices traded with mild negative bias during the last trading session; but prices are trading above upward trend line.
* For Intraday session immediate support is at 60400 - 60200 level and resistance at 60800 - 61000. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 60800 - 61000 levels on higher side.
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