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For Intraday session Crude Oil immediate support is at 6900 - 6820 level - 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.52500 - 52300 levels whereas resistance is at Rs.52900 - 53100 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.62000 - 61600 levels whereas resistance is at Rs.62900 - 63300 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6900 - 6820 levels whereas resistance is at Rs. 7080 - 7180 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.690 - 685 levels whereas resistance is at Rs.702 - 707 levels.
CHART OF THE DAY
Strategy: Intraday
* CRUDE OIL 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 6900 – 6820 level and resistance at 7080 - 7180. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6900 – 6820 levels on lower side.
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