MCX Crude Oil is likely to trade with 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.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.91300 - 90300 levels whereas resistance is at Rs.93300 - 94300 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 negative bias during today’s trading session. Support is at Rs.845 – 838 levels whereas resistance is at Rs.860 - 868 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 downward 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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