MCX Crude Oil is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital Ltd
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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.51900 - 51700 levels whereas resistance is at Rs.52300 - 52500 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.61500 - 61200 levels whereas resistance is at Rs.62300 - 62600 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.6930 - 6830 levels whereas resistance is at Rs. 7150 - 7250 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.681 - 676 levels whereas resistance is at Rs.691 - 696 levels.
CHART OF THE DAY
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session; and prices are trading above downward trend line.
* For Intraday session immediate support is at 681 – 676 level and resistance at 691 - 696. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 691 – 696 levels on higher side.
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