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03-09-2024 11:20 AM | Source: Monarch Networth Capital Ltd
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.71400 - 71200 levels whereas resistance is at Rs.71800 – 72000 levels.

* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.83800 - 83100 levels whereas resistance is at Rs.85200 - 86000 levels.

* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6140 - 6060 levels whereas resistance is at Rs. 6280 - 6350 levels.

* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.795 – 790 levels whereas resistance is at Rs.807 - 813 levels.

 

CHART OF THE DAY

MCX-CRUDE OIL (DAILY CHART)

 

Strategy: Intraday

* SILVER prices traded with negative bias during the last trading session; and prices are trading below downward trend line.

* For Intraday session immediate support is at 83800 – 83100 level and resistance at 85200 – 86000. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 83800 – 83100 levels on lower side.

 

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