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MCX Crude Oil is likely to trade with sideways to negative 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 negative bias during today’s trading session. Support is at Rs.72400 - 72100 levels whereas resistance is at Rs.73000 - 73300 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.88200 - 87200 levels whereas resistance is at Rs.90200 - 91200 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6480 - 6400 levels whereas resistance is at Rs. 6630 - 6700 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.808 – 802 levels whereas resistance is at Rs.820 - 825 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below upward trend line.
* For Intraday session immediate support is at 808 – 802 level and resistance at 820 – 825. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 808 – 825 levels on lower side.
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