CRUDE OIL prices traded with positive bias during the last trading session and it was trading above upward slopping trend line - 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.48700 - 48500 levels whereas resistance is at Rs.49100- 49300 levels.
MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.62600 - 62200 levels whereas resistance is at Rs.63400 - 63800 levels.
MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6690 - 6650 levels whereas resistance is at Rs. 6880 - 6930 levels.
MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.758 - 752 levels whereas resistance is at Rs.780 - 786 levels.
Strategy: Intraday
CRUDE OIL prices traded with positive bias during the last trading session and it was trading above upward slopping trend line
For Intraday session immediate support is at 6690 - 6650 level and resistance at 6880 - 6930. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6880– 6930 levels on higher side.
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