MCX Copper looks strong if Rs.732 level is breached - 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.47800 levels whereas resistance is at Rs.48900- 49000 levels. Buying is advised above Rs.48500 levels for the target prices of Rs.48900 – 49000 levels
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.68500 levels whereas resistance is at Rs.70800 – 71200 levels. Buying is advised above Rs.69900 levels for the target prices of Rs.70800 – 71200 levels
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.5300 levels whereas resistance is at Rs.5450 – 5480 levels. Selling below 5350 is advised targeting Rs.5300-5250 levels
* MCX Copper looks strong if Rs.732 level is breached. Buying above Rs.732 is advised targeting Rs.740– 745 levels.
CHART OF THE DAY
MCX – SILVER (DAILY CHART)
Strategy: Intraday
* SILVER prices traded with positive bias during the last trading session
* It has support of upward sloping trend line and sustained above the same
* For Intraday session we expect SILVER prices to trade with positive bias if prices sustain above 69900 levels whereas 68500 and 68000 will act as an immediate support levels
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