MCX Copper is likely to trade with sideways to 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.72000 - 71700 levels whereas resistance is at Rs.72600 - 72900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.91500 - 90500 levels whereas resistance is at Rs.93500 - 94500 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 6760 - 6660 levels whereas resistance is at Rs. 6960 - 7060 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.864 – 858 levels whereas resistance is at Rs.876 - 882 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 upward trend line.
* For Intraday session immediate support is at 6760 – 6660 level and resistance at 6960 – 7060. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6760 – 6660 levels on lower side.
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