MCX CMCX Copper is likely to trade with negative bias during today`s trading session - 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.59300 - 59000 levels whereas resistance is at Rs.59900 - 60200 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.71700 - 71200 levels whereas resistance is at Rs.72700 - 73200 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6100 - 6000 levels whereas resistance is at Rs. 6300 - 6400 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.775 - 770 levels whereas resistance is at Rs.784 - 789 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 6100 - 6000 level and resistance at 6300 - 6400. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6300 - 6400 levels on higher side
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