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 negative bias during today’s trading session. Support is at Rs.58400 - 58200 levels whereas resistance is at Rs.58900 - 59100 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71500 - 71000 levels whereas resistance is at Rs.72400 - 72900 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.7280 - 7180 levels whereas resistance is at Rs. 7480 - 7580 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.728 - 725 levels whereas resistance is at Rs.736 - 740 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 728 - 724 level and resistance at 736 - 740. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 736 - 740 levels on higher side.
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