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MCX Copper is likely to trade with sideways to positive 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 positive 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 positive bias during today’s trading session. Support is at Rs.89300 - 88300 levels whereas resistance is at Rs.91300 - 92300 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6300 - 6200 levels whereas resistance is at Rs. 6480 - 6580 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.826 – 820 levels whereas resistance is at Rs.838 - 844 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART
Strategy: Intraday
* SILVER prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 89300 – 88300 level and resistance at 91300 – 92300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 91300 – 92300 levels on higher side.
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