MCX Copper is likely to trade with positive bias during today`s trading session - Monarch Networth Capital Limited
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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.58600 - 58400 levels whereas resistance is at Rs.59000 - 59200 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.69000 - 68600 levels whereas resistance is at Rs.69800 - 70200 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5730 - 5630 levels whereas resistance is at Rs. 5950 - 6050 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.766 - 761 levels whereas resistance is at Rs.777 - 782 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with positive bias during the last trading session; and prices are trading above horizontal trend line.
* For Intraday session immediate support is at 5730 - 5630 level and resistance at 5950 - 6050. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 5950 - 6050 levels on higher side.
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