For Intraday session silver immediate support is at 68600-68000 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.54600 - 54400 levels whereas resistance is at Rs.55000 - 55200 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.68600 - 68000 levels whereas resistance is at Rs.69600 - 70200 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6400 - 6300 levels whereas resistance is at Rs. 6650 - 6750 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.720 - 715 levels whereas resistance is at Rs.728 - 733 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 upward trend line.
* For Intraday session immediate support is at 68600 – 68000 level and resistance at 69600 - 70200. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 68600 - 68000 levels on lower side.
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