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 positive bias during today’s trading session. Support is at Rs.77000 - 76700 levels whereas resistance is at Rs.77600 – 77900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.88200 - 87200 levels whereas resistance is at Rs. 90200 - 91200 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6310 - 6250 levels whereas resistance is at Rs. 6440 - 6500 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.794 – 786 levels whereas resistance is at Rs.806 - 812 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 6310 – 6250 level and resistance at 6440 – 6500. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6440 – 6500 levels on higher side.
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