MCX Copper is likely to trade with sideways to 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.75000 - 74700 levels whereas resistance is at Rs.75600 – 75900 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.86600 - 85600 levels whereas resistance is at Rs. 88700 - 89700 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 5760 - 5700 levels whereas resistance is at Rs. 5900 - 5960 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.801 – 795 levels whereas resistance is at Rs.813 - 819 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL 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 5760 – 5700 level and resistance at 5900 – 5960. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 5760 – 5700 levels on lower side.
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