Crude Oil prices traded with positive bias during the last trading session - 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.65400 - 65200 levels whereas resistance is at Rs.65800 - 66000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.74400 - 74000 levels whereas resistance is at Rs.75300 - 75700 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6780 - 6680 levels whereas resistance is at Rs. 6980 - 7080 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.751 – 747 levels whereas resistance is at Rs.760 - 764 levels.
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 6780 - 6680 level and resistance at 6980 - 7080. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6980 - 7080 levels on higher side.
