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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.76200 - 76000 levels whereas resistance is at Rs.76500 – 76700 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.89000 - 88000 levels whereas resistance is at Rs. 90000 - 91000 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 5940 - 5880 levels whereas resistance is at Rs. 6050 - 6120 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.801 – 794 levels whereas resistance is at Rs.808 - 815 levels.
CHART OF THE DAY
MCX- COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with mild positive bias during the last trading session; but prices are trading below upward trend line.
* For Intraday session immediate support is at 801 – 794 level and resistance at 808 – 815. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 801 – 794 levels on lower side.
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