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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.71400 - 71100 levels whereas resistance is at Rs.72000 - 72300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.88000 - 87000 levels whereas resistance is at Rs.90000 - 91000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6600 - 6500 levels whereas resistance is at Rs. 6800 - 6900 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.845 – 838 levels whereas resistance is at Rs.858 - 864 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 6600 - 6500 level and resistance at 6800 - 6900. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6800 - 6900 levels on higher side.
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