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 negative bias during today’s trading session. Support is at Rs.62200 - 62000 levels whereas resistance is at Rs.62600 - 62800 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.72000 - 71500 levels whereas resistance is at Rs.73000 - 73500 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5970 - 5900 levels whereas resistance is at Rs. 6130 - 6200 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.708 – 704 levels whereas resistance is at Rs.716 - 720 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 708 - 704 level and resistance at 716 - 720. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 708 - 704 levels on lower side
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