COPPER prices traded with positive bias during the last 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.48500 levels whereas resistance is at Rs.49600- 49800 levels. Buying is advised above Rs.49200 levels for the target prices of Rs.49500 – 49800 levels
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.70200 levels whereas resistance is at Rs.72100 – 72800 levels. Buying is advised above Rs.71400 levels for the target prices of Rs.72100 – 72800 levels
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5000 levels whereas resistance is at Rs.5150 – 5180 levels. Buying above 5090 is advised targeting Rs.5150-5180 levels
* MCX Copper looks strong if Rs.750 level is breached. Buying above Rs.750 is advised targeting Rs.760– 765 levels
CHART OF THE DAY
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Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session
* It is having a support of upward sloping trend line and sustaining above the same
* For Intraday session we expect COPPER prices to trade with positive bias if price sustains above 750 levels whereas 740 and 735 will act as an immediate support levels
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