MCX Crude Oil is likely to trade with positive bias during today`s trading session - Monarch Networth Capital
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.62400 - 62100 levels whereas resistance is at Rs.62800 - 63000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.72000 - 71600 levels whereas resistance is at Rs.73000 - 73500 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6050 - 5980 levels whereas resistance is at Rs. 6200 - 6270 levels.
* MCX Copper is likely to trade with sideway to positive bias during today’s trading session. Support is at Rs.716 – 712 levels whereas resistance is at Rs.724 - 728 levels.
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 6050 - 5980 level and resistance at 6200 - 6270. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6200 - 6270 levels on higher side.
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