MCX Crude Oil is likely to trade with negative bias during today`s trading session - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
MCX Gold is likely to trade sideways to negative bias during today’s trading session. Support is at Rs.46700 levels whereas resistance is at Rs.47300- 47500 levels. Selling is advised below Rs.46700 levels for the target prices of Rs.46500 – 46200 levels
MCX Silver is likely to trade range bound until either side level is breached during today’s trading session. Support is at Rs.64200 levels whereas resistance is at Rs.65200 levels
MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 4960 levels whereas resistance is at Rs.5080 – 5130 levels. Selling below 4960 is advised targeting Rs.4910 – 4870 levels
MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs. 707 levels whereas resistance is at Rs.715 - 719 levels. Sell below 707 is advised targeting Rs.704– 700 levels
CHART OF THE DAY MCX
NATURAL GAS (2 HOURLY CHART)
Strategy: Intraday
NATURAL GAS prices traded with negative bias during the last trading session
It was closed below the upward sloping trend line in intraday trading session
For Intraday session we expect NATURAL GAS prices to extend downside if price sustains below 335 levels for target of 331-328 whereas 341 and 344 will act as an immediate resistance levels
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