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.77400 - 77100 levels whereas resistance is at Rs.78000 – 78300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.88200 - 87200 levels whereas resistance is at Rs. 90200 - 91200 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6240 - 6180 levels whereas resistance is at Rs. 6360 - 6420 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.788 – 782 levels whereas resistance is at Rs.800 - 806 levels.
CHART OF THE DAY
MCX- CRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL 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 6240 – 6180 level and resistance at 6360 – 6420. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6360 – 6420 levels on higher side.
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