MCX Copper is likely to trade with sideways to negative bias - 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.49600 - 49400 levels whereas resistance is at Rs.50200- 50500 levels.
MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.59000 - 58500 levels whereas resistance is at Rs.59800 - 60300 levels.
MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.8400 - 8300 levels whereas resistance is at Rs. 8650 - 8750 levels.
MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.745 - 740 levels whereas resistance is at Rs.759 - 764 levels.
CHART OF THE DAY
Strategy: Intraday
SILVER prices traded with positive bias during the last trading session; prices are trading above downward slopping trend line.
For Intraday session immediate support is at 59000 - 58500 level and resistance at 59800 - 60300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 59800 - 60300 levels on higher side.
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