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.76500 - 76200 levels whereas resistance is at Rs.77000 – 77300 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.86200 - 85200 levels whereas resistance is at Rs. 88200 - 89200 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6100 - 6050 levels whereas resistance is at Rs. 6220 - 6270 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.787 – 781 levels whereas resistance is at Rs.799 - 805 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 6100 – 6050 level and resistance at 6220 – 6270. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6220 – 6270 levels on higher side
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