MCX Silver is likely to trade with negative bias during today`s trading session. Support is at Rs.72500 - 72000 levels - 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.59200 - 59000 levels whereas resistance is at Rs.59600 - 59800 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.72500 - 72000 levels whereas resistance is at Rs.73400 - 73900 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6450 - 6350 levels whereas resistance is at Rs. 6650 - 6750 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.734 - 730 levels whereas resistance is at Rs.742 - 746 levels.
CHART OF THE DAY
MCX-COPPER (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 72500 - 72000 level and resistance at 73400 - 73900. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 72500 - 72000 levels on lower side.
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