MCX Crude Oil is likely to trade with sideways to positive 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 negative bias during today’s trading session. Support is at Rs.59000 - 58800 levels whereas resistance is at Rs.59500 - 59700 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.71500 - 71000 levels whereas resistance is at Rs.72500 - 73000 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5630 - 5530 levels whereas resistance is at Rs. 5850 - 5950 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.724 - 720 levels whereas resistance is at Rs.732 - 736 levels
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* COPPER 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 724 - 720 level and resistance at 732- 736. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 732 - 736 levels on higher side.
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