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.75100 - 74800 levels whereas resistance is at Rs.75700 – 76000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.91600 - 90600 levels whereas resistance is at Rs.93500 - 94500 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 5600 - 5540 levels whereas resistance is at Rs. 5840 - 5920 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.856 – 850 levels whereas resistance is at Rs.868 - 874 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 75100 – 74800 level and resistance at 75700 –76000. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 75700 – 76000 levels on higher side.
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