MCX Crude Oil is likely to trade with sideways to positive 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.71300 - 71000 levels whereas resistance is at Rs.71900 - 72200 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.84000 - 83500 levels whereas resistance is at Rs.85000 - 85500 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6500 - 6400 levels whereas resistance is at Rs. 6700 - 6800 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.855 – 850 levels whereas resistance is at Rs.865 - 870 levels
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
* SILVER 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 84000 - 83500 level and resistance at 85000 - 85500. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 85000 - 85500 levels on higher side.
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