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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.62200 - 62000 levels whereas resistance is at Rs.62600 - 62800 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.74300 - 73800 levels whereas resistance is at Rs.75300 - 75800 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.5760 - 5700 levels whereas resistance is at Rs. 5900 - 5960 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.704 – 700 levels whereas resistance is at Rs.713 - 717 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL 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 5760 - 5700 level and resistance at 5900 - 5960. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 5760 - 5700 levels on lower side.
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