For Intraday session Copper immediate support is at 687 - 682 level - Monarch Networth Capital Ltd
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.52500 - 52300 levels whereas resistance is at Rs.52900 - 53100 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.61100 - 60600 levels whereas resistance is at Rs.62100 - 62600 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.6940 - 6840 levels whereas resistance is at Rs. 7160 - 7260 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.687 - 682 levels whereas resistance is at Rs.698 - 703 levels.
CHART OF THE DAY
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below downward trend line.
* For Intraday session immediate support is at 687 – 682 level and resistance at 698 - 703. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 687 – 682 levels on lower side.
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