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.75800 - 75500 levels whereas resistance is at Rs.76400 – 76700 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.89600 - 88600 levels whereas resistance is at Rs.91600 - 92600 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 6180 - 6100 levels whereas resistance is at Rs. 6320 - 6400 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.820 – 815 levels whereas resistance is at Rs.830 - 835 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session; but prices are trading below downward trend line.
* For Intraday session immediate support is at 820 – 815 level and resistance at 830 – 835. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 820 – 815 levels on lower side.
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