Support is at Rs.47000 levels whereas resistance is at Rs.47500- 47700 levels - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
MCX Gold is likely to trade sideways to negative bias during today’s trading session. Support is at Rs.47000 levels whereas resistance is at Rs.47500- 47700 levels.
MCX Silver is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.62800 levels whereas resistance is at Rs.63600- 64000 levels.
MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6140 levels whereas resistance is at Rs.6200 – 6250 levels. Buying above 6200 is advised targeting Rs.6250 – 6280 levels.
MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.786 levels whereas resistance is at Rs.805 – 814 levels. Buying above 800 is advised targeting Rs.805 – 814 levels.
CHART OF THE DAY
MCX- CRUDE OIL (DAILY CHART)
Strategy: Intraday
Crude Oil prices traded with positive bias during last trading session
It was closed above upward sloping trend line in intraday trading session.
For Intraday session immediate support is at 6140 – 6100 level and resistance at 6200 – 6250. If price sustains above the immediate resistance level of 6200 level then it will provide further momentum towards 6250 -6280 levels on the higher side.
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