MCX Crude Oil is likely to trade with sideways to negative bias during today`s trading session -Monarch Networth Capital
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.65200 - 65000 levels whereas resistance is at Rs.65600 - 65800 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.73400 - 73000 levels whereas resistance is at Rs.74300 - 74700 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6350 - 6250 levels whereas resistance is at Rs. 6550 - 6650 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.732 – 728 levels whereas resistance is at Rs.740 - 744 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with mild negative bias during the last trading session; but prices are trading above upward trend line.
* For Intraday session immediate support is at 732 - 728 level and resistance at 740 - 744. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 740 - 744 levels on higher side.
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