MCX Silver is likely to trade with positive bias during today - Monarch Networth Capital
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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.49200 - 49000 levels whereas resistance is at Rs.49600 - 49800 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.56300 - 56000 levels whereas resistance is at Rs.57000 - 57300 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6730 - 6650 levels whereas resistance is at Rs. 6890 - 6680 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.646 - 641 levels whereas resistance is at Rs.657 - 662 levels.
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session; and prices are trading above upward slopping trend line.
* For Intraday session immediate support is at 646 - 641 level and resistance at 657 - 662. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 657 - 662 levels on higher side.
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