MCX Crude Oil is likely to trade with negative 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.68300 - 68000 levels whereas resistance is at Rs.68900 – 69200 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.80400 - 79400 levels whereas resistance is at Rs.82400 - 83400 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 6250 - 6170 levels whereas resistance is at Rs. 6430 - 6500 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.785 – 780 levels whereas resistance is at Rs.797 - 803 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below downward trend line.
* For Intraday session immediate support is at 785 – 780 level and resistance at 797 – 803. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 785 – 780 levels on lower side.
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