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 positive bias during today’s trading session. Support is at Rs.47000 levels whereas resistance is at Rs.47400- 47600 levels.
MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.61200 levels whereas resistance is at Rs.62100- 62600 levels.
MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6000 levels whereas resistance is at Rs.6150 – 6240 levels. Buying above 6150 is advised targeting Rs.6240 – 6280 levels.
MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.727 levels whereas resistance is at Rs.742 – 749 levels. Buying above 742 is advised targeting Rs.749 – 752 levels.
CHART OF THE DAY
MCX- COPPER (DAILY CHART)
Strategy: Intraday
COPPER prices traded with positive bias during last trading session
It was closed above downward sloping trend line in intraday trading session.
For Intraday session immediate support is at 727 – 722 level and resistance at 742 – 749. If price sustains above the immediate resistance level of 742 level then it will provide further momentum towards 749 - 752 levels on the higher side.
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