MCX Crude Oil is likely to trade 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 negative bias during today’s trading session. Support is at Rs.45800 levels whereas resistance is at Rs.46400- 46600 levels. Selling below 45800 is advised targeting Rs.45600 – 45400 levels.
MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.59200 levels whereas resistance is at Rs.60500- 61000 levels. Selling below 59200 is advised targeting Rs.58700 – 58300 levels.
MCX Crude Oil is likely to trade sideways to negative bias during today’s trading session. Support is at Rs.5160 levels whereas resistance is at Rs.5250 – 5290 levels.
MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.702 levels whereas resistance is at Rs.710 - 714 levels. Selling below 702 is advised targeting Rs.698 – 694 levels.
CHART OF THE DAY MCX
COPPER (DAILY CHART)
Strategy: Intraday
COPPER prices traded with negative bias during the last trading session
It closed below the downward sloping trend line in intraday trading session
For Intraday session we expect COPPER prices to trade with a negative bias. If price sustains below the immediate support level of 702 level then it will provide further momentum towards 698 - 694 levels on the lower side
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