Crude Oil prices traded with positive bias during the last trading session - Monach networth capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.60900 - 60700 levels whereas resistance is at Rs.61300 - 61500 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.71500 - 71000 levels whereas resistance is at Rs.72500 - 73000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5900 - 5840 levels whereas resistance is at Rs. 6050 - 6130 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.710 – 705 levels whereas resistance is at Rs.720 - 725 levels.
CHART OF THE DAY
MCX-CRUDE OIL (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 5900 - 5840 level and resistance at 6050 - 6130. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6050 - 6130 levels on higher side.
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