For Intraday session COPPER immediate support is at 696 - 690 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.52100 - 51800 levels whereas resistance is at Rs.52500 - 52800 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.61200 - 60800 levels whereas resistance is at Rs.62000 - 62400 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.7000 - 6900 levels whereas resistance is at Rs. 7250 - 7350 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.696 - 690 levels whereas resistance is at Rs.709 - 714 levels.
CHART OF THE DAY
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session; and prices are trading above downward trend line.
* For Intraday session immediate support is at 696 – 690 level and resistance at 709 - 714. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 709 – 714 levels on higher side.
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