MCX Silver is likely to trade with negative 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.71200 - 71000 levels whereas resistance is at Rs.71700 - 71900 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.86000 - 85000 levels whereas resistance is at Rs.88000 - 89000 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6680 - 6580 levels whereas resistance is at Rs. 6880 - 6980 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.835 – 830 levels whereas resistance is at Rs.845 - 850 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 downward trend line.
* For Intraday session immediate support is at 835 - 830 level and resistance at 845 - 850. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 835 - 830 levels on lower side.
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