MCX Crude Oil is likely to trade with sideways to positive 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.74600 - 74300 levels whereas resistance is at Rs.75200 – 75500 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.87700 - 86700 levels whereas resistance is at Rs.89700 - 90700 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6080 - 6000 levels whereas resistance is at Rs. 6200 - 6280 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.820 – 814 levels whereas resistance is at Rs.832 - 838 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 820 – 814 level and resistance at 832 – 838. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 820 – 814 levels on lower side.
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