MCX Silver is likely to trade with sideways to negative bias during today`s trading session. Support is at Rs.61100 - 61600 levels whereas resistance is at Rs.62000 - 62500 levels - 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.51300 - 51100 levels whereas resistance is at Rs.51700 - 51900 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.61100 - 61600 levels whereas resistance is at Rs.62000 - 62500 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6950 - 6850 levels whereas resistance is at Rs. 7150 - 7250 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.673 - 668 levels whereas resistance is at Rs.684 - 689 levels.
CHART OF THE DAY :
Strategy: Intraday
* CRUDE OIL prices traded with negative bias during the last trading session; and prices are trading below upward trend line.
* For Intraday session immediate support is at 6950 – 6850 level and resistance at 7150 - 7250. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6950 – 6850 levels on lower side.
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