MCX Silver 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.58800 - 58700 levels whereas resistance is at Rs.59100 - 59200 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71400 - 71000 levels whereas resistance is at Rs.72400 - 72700 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.7120 - 7020 levels whereas resistance is at Rs. 7320 - 7420 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.724 - 720 levels whereas resistance is at Rs.732 - 736 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below upward trend line.
* For Intraday session immediate support is at 724-720 level and resistance at 732 - 736. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 724 - 720 levels on lower side.
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