MCX Crude Oil is likely to trade with sideways to positive bias during todays trading session - 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.58600 - 58400 levels whereas resistance is at Rs.59100 - 59300 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.69800 - 69200 levels whereas resistance is at Rs.71000 - 71600 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5720 - 5620 levels whereas resistance is at Rs. 5930 - 6030 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.726 - 722 levels whereas resistance is at Rs.735 - 739 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
* SILVER 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 69800 - 69200 level and resistance at 71000- 71600. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 69800 - 69200 levels on lower side.
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