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 negative bias during today’s trading session. Support is at Rs.73800 - 73500 levels whereas resistance is at Rs.74400 - 74700 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.91000 - 90000 levels whereas resistance is at Rs.92700 - 93700 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6750 - 6650 levels whereas resistance is at Rs. 6950 - 7050 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.823 – 818 levels whereas resistance is at Rs.833 - 838 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 upward trend line.
* For Intraday session immediate support is at 823 – 818 level and resistance at 833 – 838. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 823 – 818 levels on lower side.
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