Copper prices traded with positive bias during the last trading session; and prices are trading above upward trend line - 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.74000 - 73700 levels whereas resistance is at Rs.74700 - 75000 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.94500 - 93500 levels whereas resistance is at Rs.96500 - 97500 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6480 - 6380 levels whereas resistance is at Rs. 6680 - 6780 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.926 – 916 levels whereas resistance is at Rs.946 - 956 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER 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 926 - 916 level and resistance at 946 - 956. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 946 - 956 levels on higher side.
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