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For Intraday session immediate support is at 6830 - 6740 level and resistance at 7090 - 7180 - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with negative bias during today’s trading session. Support is at Rs.50100 - 49900 levels whereas resistance is at Rs.50500 - 50700 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.52700 - 52400 levels whereas resistance is at Rs.53500 - 53800 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6830 - 6740 levels whereas resistance is at Rs. 7090 - 7180 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.637 - 632 levels whereas resistance is at Rs.647 - 652 levels.
Strategy: Intraday
* CRUDE OIL prices traded with negative bias during the last trading session; and prices are trading below upward slopping trend line.
* For Intraday session immediate support is at 6830 - 6740 level and resistance at 7090 - 7180. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6830 - 6740 levels on lower side.
MCX- CRUDE OIL (DAILY CHART
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