Silver is likely to trade with positive bias during today’s trading session - 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.48100 levels whereas resistance is at Rs.48400- 48600 levels. Buying above 48400 is advised targeting Rs. 48600 – 48800 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.61300 levels whereas resistance is at Rs.61800- 62100 levels. Buying above 61800 is advised targeting Rs. 62100 – 62400 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.5350 levels whereas resistance is at Rs.5520 – 5560 levels. Selling below 5350 is advised targeting Rs. 5300 – 5260 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.729 levels whereas resistance is at Rs.735 – 739 levels. Selling below 729 is advised targeting Rs. 726 – 722 levels.
CHART OF THE DAY
Strategy: Intraday
* NATURAL GAS prices traded with negative bias during last trading session
* It was closed above upward sloping trend line in intraday trading session
* For Intraday session immediate support is at 293 –285 level and resistance at 302 – 307. If price sustains below the immediate support level of 293 level then it will provide further momentum towards 285 – 281 levels on the lower side.
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