MCX Copper is likely to trade with sideways to negative bias during today`s trading session - Monarch Networth Capital Ltd
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with negative bias during today’s trading session. Support is at Rs.76900 - 76600 levels whereas resistance is at Rs.77400 – 77700 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.90200 - 89200 levels whereas resistance is at Rs. 92200 - 93200 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 5760 - 5700 levels whereas resistance is at Rs. 5880 - 5940 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.802 – 796 levels whereas resistance is at Rs.814 - 820 levels.
CHART OF THE DAY
MCX- SILVER (DAILY CHART)
Strategy: Intraday
* SILVER prices traded with positive bias during the last trading session; but prices are trading below downward trend line.
* For Intraday session immediate support is at 90200 – 89200 level and resistance at 92200 – 93200. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 90200 – 89200 levels on lower side.
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