MCX Crude Oil is likely to trade with sideways to negative 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 negative bias during today’s trading session. Support is at Rs.61000 - 60700 levels whereas resistance is at Rs.61500 - 61800 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.76100 - 75600 levels whereas resistance is at Rs.77100 - 77600 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.5850 - 5750 levels whereas resistance is at Rs. 6050 - 6150 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.740 - 736 levels whereas resistance is at Rs.749 - 753 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below downward trend line.
* For Intraday session immediate support is at 740 - 736 level and resistance at 749 - 753. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 740 - 736 levels on lower side.
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