MCX Crude Oil is likely to trade with positive bias during today`s trading session. Support is at Rs.6200 - 6100 levels - Monarch Networth Capital
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.59000 - 58700 levels whereas resistance is at Rs.59600 - 59900 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.74500 - 74000 levels whereas resistance is at Rs.75500 - 76000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6200 - 6100 levels whereas resistance is at Rs. 6430 - 6530 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.721 - 717 levels whereas resistance is at Rs.729 - 733 levels.
CHART OF THE DAY
MCX-GOLD (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 6200 -6100 level and resistance at 6430- 6530. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6430 - 6530 levels on higher side.
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