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 negative bias during today’s trading session. Support is at Rs.78400 - 78000 levels whereas resistance is at Rs.78900 – 79300 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.94500 - 93000 levels whereas resistance is at Rs.95000 - 96500 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 5900 - 5800 levels whereas resistance is at Rs. 6050 - 6150 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.842 – 836 levels whereas resistance is at Rs.854 - 860 levels.
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 5900 – 5800 level and resistance at 6050 – 6150. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6050 – 6150 levels on higher side.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
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SEBI Registration Number : INZ000043833
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