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MCX Copper is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.52100 - 51900 levels whereas resistance is at Rs.52500 - 52700 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.60200 - 59800 levels whereas resistance is at Rs.61000 - 61400 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6480 - 6380 levels whereas resistance is at Rs. 6680 - 6780 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.658 - 653 levels whereas resistance is at Rs.669 - 674 levels.
Strategy: Intraday
* CRUDE OIL prices traded with positive bias during the last trading session; and prices are trading above horizontal support trend line.
* For Intraday session immediate support is at 6480 – 6380 level and resistance at 6680 - 6780. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6680 – 6780 levels on higher side.
CHART OF THE DAY
MCX- CRUDE OIL (DAILY CHART)
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