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MCX Crude Oil is likely to trade with positive bias during today`s trading session - Monarch Networth Capital
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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.72100 - 71800 levels whereas resistance is at Rs.72600 - 72900 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.91000 - 90000 levels whereas resistance is at Rs.93000 - 94000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6930 - 6830 levels whereas resistance is at Rs. 7130 - 7230 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.862 – 856 levels whereas resistance is at Rs.874 - 880 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with mild positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 6930 - 6830 level and resistance at 7130 - 7230. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 7130 - 7230 levels on higher side.
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