MCX Silver is likely to trade with sideways to positive 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.58200 - 58000 levels whereas resistance is at Rs.58700 - 58900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.70900 - 70500 levels whereas resistance is at Rs.71900 - 72300 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5850 - 5750 levels whereas resistance is at Rs. 6050 - 6150 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.713 - 709 levels whereas resistance is at Rs.721 - 725 levels.
CHART OF THE DAYMCX-COPPER
(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 5850 -5750 level and resistance at 6050- 6150. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6050 - 6150 levels on higher side
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