MCX Silver is likely to trade with sideways to negative bias during today`s trading session. Support is at Rs.74900 - 73400 - 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.59300 - 59000 levels whereas resistance is at Rs.59800 - 60100 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.74900 - 73400 levels whereas resistance is at Rs.75900 - 76400 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6100 - 6000 levels whereas resistance is at Rs. 6330 - 6430 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.725 - 721 levels whereas resistance is at Rs.733 - 738 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* CRUDE OIL 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 6100 -6000 level and resistance at 6330- 6430. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6330 - 6430 levels on higher side.
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