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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