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 positive bias during today’s trading session. Support is at Rs.76000 - 75700 levels whereas resistance is at Rs.76600 – 76900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.90600 - 89600 levels whereas resistance is at Rs.92600 - 93600 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6280 - 6200 levels whereas resistance is at Rs. 6440 - 6520 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.834 – 828 levels whereas resistance is at Rs.846 - 852 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session; but prices are trading below downward trend line.
* For Intraday session immediate support is at 834 – 828 level and resistance at 846 – 852. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 834 – 828 levels on lower side.
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