MCX Silver is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital Limited
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COMMODITY TECHNICAL OUTLOOK
*MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.58300 - 58000 levels whereas resistance is at Rs.58700 - 59000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.68000 - 67600 levels whereas resistance is at Rs.68800 - 69200 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5650 - 5550 levels whereas resistance is at Rs. 5850 - 5950 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.758 - 753 levels whereas resistance is at Rs.768 - 773 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with positive bias during the last trading session; and prices are trading above horizontal trend line.
* For Intraday session immediate support is at 5650 - 5550 level and resistance at 5850 - 5950. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 5850 - 5950 levels on higher side.
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