MCX Silver is likely to trade with negative 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.72700 - 72400 levels whereas resistance is at Rs.73300 - 73600 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.88500 - 87500 levels whereas resistance is at Rs.90500 - 91500 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6540 - 6460 levels whereas resistance is at Rs. 6700 - 6780 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.814 – 808 levels whereas resistance is at Rs.826 - 832 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 814 – 808 level and resistance at 826 – 832. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 814 – 808 levels on lower side.
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