MCX Crude Oil is likely to trade with positive bias during today`s trading session - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
MCX Gold is likely to trade sideways to negative bias during today’s trading session. Support is at Rs.46800 levels whereas resistance is at Rs.47200- 47400 levels.
MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.63000 levels whereas resistance is at Rs.63500 levels. Selling below 63000 is advised targeting Rs.62700 – 62400 levels.
MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5250 levels whereas resistance is at Rs.5400 – 5450 levels. Buying above 5400 is advised targeting Rs.5450 – 5500 levels.
MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.726 levels whereas resistance is at Rs.740 - 745 levels. Buying above 740 is advised targeting Rs.745 – 750 levels
Strategy: Intraday
CRUDE OIL prices traded with positive bias during the last trading session
It closed above the upward sloping trend line in intraday trading session
For Intraday session we expect CRUDE OIL prices to trade with a positive bias. If price sustains above the immediate resistance level of 5400 level then it will provide further momentum towards 5450 - 5500 levels on the higher side.
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