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MCX Silver is likely to trade with positive bias during today`s trading session - Monarch Networth Capital Ltd
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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.59900 - 59700 levels whereas resistance is at Rs.60500 - 60700 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.72100 - 71600 levels whereas resistance is at Rs.73100 - 73600 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5730 - 5630 levels whereas resistance is at Rs. 5930 - 6030 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.710 - 705 levels whereas resistance is at Rs.720 - 725 levels
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
* SILVER prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 72100 - 71600 level and resistance at 73100- 73600. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 73100 - 73600 levels on higher side.
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