For Intraday session Silver immediate support is at 68000 - 67600 level - Monarch Networth Capital
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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.55500 - 55300 levels whereas resistance is at Rs.56000 - 56200 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.68000 - 67600 levels whereas resistance is at Rs.68800 - 69200 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6100 - 6000 levels whereas resistance is at Rs. 6280 - 6380 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.752 - 747 levels whereas resistance is at Rs.762 - 767 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
* SILVER 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 68000 – 67600 level and resistance at 68800 - 69200. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 68000 - 67400 levels on lower side.
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