MCX Silver 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 positive bias during today’s trading session. Support is at Rs.47500 levels whereas resistance is at Rs.48000- 48200 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.64900 levels whereas resistance is at Rs.66500- 67200 levels. Buying above 66500 is advised targeting Rs.67200 – 67600 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6220 levels whereas resistance is at Rs.6320 – 6380 levels. Buying above 6320 is advised targeting Rs.6380 – 6430 levels.
* MCX Copper is likely to trade sideways to negative bias during today’s trading session. Support is at Rs.759 levels whereas resistance is at Rs.775 – 781 levels.
CHART OF THE DAY
Strategy: Intraday
* Crude Oil prices traded with positive bias during last trading session
* It was closed above upward sloping trend line in intraday trading session.
* For Intraday session immediate support is at 6220 – 6170 level and resistance at 6320 – 6380. If price sustains above the immediate resistance level of 6320 level then it will provide further momentum towards 6380 – 6430 levels on the higher side.
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