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 sideways to negative bias during today’s trading session. Support is at Rs.71500 - 71200 levels whereas resistance is at Rs.72100 - 72400 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.88000 - 87000 levels whereas resistance is at Rs.90000 - 91000 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6720 - 6620 levels whereas resistance is at Rs. 6920 - 7020 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.842 – 836 levels whereas resistance is at Rs.853 - 859 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 842 - 836 level and resistance at 853 - 859. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 842 - 836 levels on lower side.
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