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MCX Copper is likely to trade with sideways to negative bias during today’s trading session - 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.51000 - 50800 levels whereas resistance is at Rs.51200- 51400 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.61500 - 61200 levels whereas resistance is at Rs.62400 - 62700 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.8990 - 8890 levels whereas resistance is at Rs. 9130 - 9230 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.778 - 774 levels whereas resistance is at Rs.784 - 788 levels.
CHART OF THE DAY
Strategy: Intraday
* CRUDE OIL prices traded with positive bias during the last trading session; prices are trading above upward slopping trend line.
* For Intraday session immediate support is at 8990 - 8890 level and resistance at 9130 - 9230. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 9130 - 9230 levels on higher side.
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