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MCX Silver is likely to trade with sideways to 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 positive bias during today’s trading session. Support is at Rs.60000 - 59700 levels whereas resistance is at Rs.60500 - 60800 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.73800 - 73300 levels whereas resistance is at Rs.74800 - 75300 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.6230 - 6130 levels whereas resistance is at Rs. 6430 - 6530 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.735 - 730 levels whereas resistance is at Rs.746 - 751 levels.
CHART OF THE DAY
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below downward trend line.
* For Intraday session immediate support is at 735 - 730 level and resistance at 746 - 751. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 735 - 730 levels on lower side.
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