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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 with sideways to positive bias during today’s trading session. Support is at Rs.51800 - 51500 levels whereas resistance is at Rs.52300- 52600 levels.
MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.66600 - 66100 levels whereas resistance is at Rs.67300 - 67700 levels.
MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.7260 - 7160 levels whereas resistance is at Rs. 7450 - 7550 levels.
MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.817 - 814 levels whereas resistance is at Rs.823 - 826 levels.
CHART OF THE DAY
Strategy: Intraday
NATURAL GAS prices traded with positive bias during the last trading session and it was trading above upward slopping trend line
For Intraday session immediate support is at 470 - 462 level and resistance at 490 - 497. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 490 - 497 levels on higher side
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