MCX Copper is likely to trade with negative bias during today’s 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.69700 - 69400 levels whereas resistance is at Rs.70300 – 70600 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.81500 - 80500 levels whereas resistance is at Rs.83600 - 84600 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6350 - 6280 levels whereas resistance is at Rs. 6520 - 6600 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.784 – 778 levels whereas resistance is at Rs.796 - 802 levels
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below downward trend line.
* For Intraday session immediate support is at 784 – 778 level and resistance at 796 – 802. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 784 – 778 levels on lower side.
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