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MCX Crude Oil is likely to trade with positive bias during today`s trading session - Monarch Networth Capital Limited
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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.61100 - 60800 levels whereas resistance is at Rs.61700 - 62000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.76900 - 76400 levels whereas resistance is at Rs.78000 - 78500 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5950 - 5850 levels whereas resistance is at Rs. 6150 - 6250 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.747 - 742 levels whereas resistance is at Rs.757 - 762 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 5950 - 5850 level and resistance at 6150 - 6250. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6150 - 6250 levels on higher side.
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