MCX Copper is likely to trade with negative bias - 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.50300 - 50100 levels whereas resistance is at Rs.50700 - 50900 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.58300 - 57700 levels whereas resistance is at Rs.59000 - 59600 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.8250 - 8150 levels whereas resistance is at Rs. 8480 - 8580 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.694 - 688 levels whereas resistance is at Rs.704 - 710 levels.
CHART OF THE DAY
Strategy: Intraday
* SILVER prices traded with negative bias during the last trading session; prices are trading below downward slopping trend line.
* For Intraday session immediate support is at 58300 - 57700 level and resistance at 59000 - 59600. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 58300 - 57700 levels on lower side.
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