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Copper prices traded with negative bias during the last trading session - Monarch Networth Capital Ltd
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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.75400 - 75000 levels whereas resistance is at Rs.76000 – 76300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.90400 - 89400 levels whereas resistance is at Rs.92500 - 93500 levels. ? MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 5630 - 5560 levels whereas resistance is at Rs. 5860 - 5920 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.848 – 840 levels whereas resistance is at Rs.864 - 872 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; but prices are trading above upward trend line.
* For Intraday session immediate support is at 848 – 840 level and resistance at 864 –872. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 864 – 872 levels on higher side.
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