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MCX Silver is likely to trade with sideways to 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.74000 - 73800 levels whereas resistance is at Rs.74500 – 74700 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.88500 - 87800 levels whereas resistance is at Rs.90000 - 90800 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5840 - 5780 levels whereas resistance is at Rs. 5950 - 6020 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.816 – 810 levels whereas resistance is at Rs.826 - 832 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 74000 – 73800 level and resistance at 74500 –74700. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 74500 – 74700 levels on higher side.
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