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.67900 - 67600 levels whereas resistance is at Rs.68400 – 68700 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.80400 - 79400 levels whereas resistance is at Rs.82400 - 83400 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6400 - 6340 levels whereas resistance is at Rs. 6550 - 6630 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.791 – 785 levels whereas resistance is at Rs.803 - 809 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 791 – 785 level and resistance at 803 – 809. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 791 – 785 levels on lower side.
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