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MCX Silver is likely to trade with sideways to negative bias during today’s trading session - 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.50900 - 50700 levels whereas resistance is at Rs.51300- 51500 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.61300 - 60600 levels whereas resistance is at Rs.62500 - 63200 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.8430 - 8330 levels whereas resistance is at Rs. 8670 - 8730 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.775 - 768 levels whereas resistance is at Rs.786 - 792 levels.
CHART OF THE DAY
Strategy: Intraday
* COPPER prices traded with mild negative bias during the last trading session; prices are trading above upward slopping trend line.
* For Intraday session immediate support is at 775 - 768 level and resistance at 786 - 792. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 786 - 792 levels on higher side.
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