MCX Copper is likely to trade with negative bias during today`s trading session - Monarch Networth Capital
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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.73000 - 72700 levels whereas resistance is at Rs.73700 - 74000 levels.
*MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.93000 - 92000 levels whereas resistance is at Rs.95000 - 96000 levels.
*MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6800 - 6700 levels whereas resistance is at Rs. 7000 - 7100 levels.
*MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.850 – 844 levels whereas resistance is at Rs.862 - 868 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 downward trend line.
* For Intraday session immediate support is at 850 – 844 level and resistance at 862 – 868. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 850 – 844 levels on lower side.
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