MCX Silver is likely to trade with negative bias during today`s trading session - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
MCX Gold is likely to trade sideways to negative bias during today’s trading session. Support is at Rs.46700 levels whereas resistance is at Rs.47000- 47200 levels.
MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.63200 levels whereas resistance is at Rs.64000 levels. Selling below 63200 is advised targeting Rs.62800 – 62500 levels.
MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 5070 levels whereas resistance is at Rs.5150 – 5220 levels. Buying above 5150 is advised targeting Rs.5220 – 5250 levels.
MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs. 735 levels whereas resistance is at Rs.745 - 750 levels. Buying above 745 is advised targeting Rs.750 – 755 levels.
CHART OF THE DAY MCX
CRUDE OIL (DAILY CHART)
Strategy: Intraday
CRUDE OIL prices traded with positive bias during the last trading session
It closed above the upward sloping trend line in intraday trading session
For Intraday session we expect CRUDE OIL prices to trade with a positive bias. If price sustains above the immediate resistance level of 5150 level then it will provide further momentum towards 5220 - 5250 levels on the higher side.
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