MCX Copper is likely to trade with positive bias during todays trading session - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.52000 - 51800 levels whereas resistance is at Rs.52400 - 52600 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.58500 - 58200 levels whereas resistance is at Rs.58900 - 59200 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.7200 - 7120 levels whereas resistance is at Rs. 7410 - 7530 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.664 - 658 levels whereas resistance is at Rs.676 - 682 levels.
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session; and prices are trading above upward slopping trend line.
* For Intraday session immediate support is at 664 - 658 level and resistance at 676 - 682. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 676 - 682 levels on higher side.
CHART OF THE DAY
MCX- COPPER (DAILY CHART)
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