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.71100 - 70800 levels whereas resistance is at Rs.71700 - 72000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.89000 - 88000 levels whereas resistance is at Rs.91000 - 92000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6380 - 6280 levels whereas resistance is at Rs. 6580 - 6680 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.856 – 848 levels whereas resistance is at Rs.871 - 879 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 6380 - 6280 level and resistance at 6580 - 6680. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6580 - 6680 levels on higher side.
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