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.74800 - 74500 levels whereas resistance is at Rs.75500 – 75800 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.87700 - 86700 levels whereas resistance is at Rs.89700 - 90700 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6160 - 6100 levels whereas resistance is at Rs. 6300 - 6360 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.828 – 822 levels whereas resistance is at Rs.842 - 848 levels.
CHART OF THE DAY
MCX-CRUDE OIL (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 828 – 822 level and resistance at 842 – 848. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 828 – 822 levels on lower side
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