MCX Copper is likely to trade with positive 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.62000 - 61800 levels whereas resistance is at Rs.62400 - 62600 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.68400 - 68000 levels whereas resistance is at Rs.69300 - 69700 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6420 - 6320 levels whereas resistance is at Rs. 6620 - 6720 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.722 – 718 levels whereas resistance is at Rs.730 - 734 levels
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with mild positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 6420 - 6320 level and resistance at 6620 - 6720. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6620 - 6720 levels on higher side.
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