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.60600 - 60400 levels whereas resistance is at Rs.61000 - 61200 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71300 - 70900 levels whereas resistance is at Rs.72100 - 72600 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6950 - 6850 levels whereas resistance is at Rs. 7150 - 7250 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.690 – 686 levels whereas resistance is at Rs.698 - 702 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 60600 - 60400 level and resistance at 61000 - 61200. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 61000 - 61200 levels on higher side.
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