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.62100 - 61900 levels whereas resistance is at Rs.62400 - 62600 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.68700 - 68400 levels whereas resistance is at Rs.69600 - 70000 levels
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6450 - 6350 levels whereas resistance is at Rs. 6630 - 6730 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.723 – 719 levels whereas resistance is at Rs.731 - 735 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 6450 - 6350 level and resistance at 6630 - 6730. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6630 - 6730 levels on higher side.
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