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MCX Silver is likely to trade with sideways to positive bias during today`s trading session. Support is at Rs.73700 - 73300 levels - Monarch Networth Capital
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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.58900 - 58700 levels whereas resistance is at Rs.59300 - 59500 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.73700 - 73300 levels whereas resistance is at Rs.74500 - 75000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6350 - 6250 levels whereas resistance is at Rs. 6550 - 6650 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.722 - 718 levels whereas resistance is at Rs.730 - 734 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 6350 -6250 level and resistance at 6550- 6650. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6550 - 6650 levels on higher side.
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