MCX Crude Oil is likely to trade with sideways to negative 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.72000 - 71700 levels whereas resistance is at Rs.72600 - 72900 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.85000 - 84500 levels whereas resistance is at Rs.86000 - 86500 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6400 - 6300 levels whereas resistance is at Rs. 6600 - 6700 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.879 – 874 levels whereas resistance is at Rs.889 - 894 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER 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 879 - 874 level and resistance at 889 - 894. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 889 - 894 levels on higher side.
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