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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 negative bias during today’s trading session. Support is at Rs.58700 - 58500 levels whereas resistance is at Rs.59200 - 59400 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at *s.72900 - 72500 levels whereas resistance is at Rs.73800 - 74200 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.7370 - 7270 levels whereas resistance is at Rs. 7570 - 7670 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.711 - 707 levels whereas resistance is at Rs.719 - 723 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 711 - 707 level and resistance at 719 - 723. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 711 - 707 levels on lower side.
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