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.75900 - 75600 levels whereas resistance is at Rs.76500 – 76800 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.92300 - 91300 levels whereas resistance is at Rs.94300 - 95300 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6250 - 6150 levels whereas resistance is at Rs. 6450 - 6550 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.848 – 840 levels whereas resistance is at Rs.863 - 871 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 6250 – 6150 level and resistance at 6450 – 6550. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6450 – 6550 levels on higher side.
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