MCX Silver is likely to trade with negative bias during today’s trading session - Monarch Networth Capital Ltd
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with negative bias during today’s trading session. Support is at Rs.47200 levels whereas resistance is at Rs.47800- 48000 levels. Selling below 47200 is advised targeting Rs. 47000 – 46900 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.61600 levels whereas resistance is at Rs.64100- 64600 levels. Selling below 61600 is advised targeting Rs. 61200 – 60900 levels.
* MCX Crude Oil is likely to trade sideways to negative bias during today’s trading session. Support is at Rs.5700 levels whereas resistance is at Rs.5970 – 6030 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.731 levels whereas resistance is at Rs.741 – 746 levels. Buying above 741 is advised targeting Rs. 746 – 750 levels. CHART OF THE DAY MCX- COPPER (DAILY CHART) Strat
CHART OF THE DAY
Strategy: Intraday
* COPPER prices traded with positive bias during last trading session
* It was closed above downward sloping trend line in intraday trading session and made doji candle.
* For Intraday session immediate support is at 735 –731 level and resistance at 746 – 750. If price sustains above the immediate resistance level of 746 level then it will provide further momentum towards 750 – 754 levels on the higher side.
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