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.59000 - 58800 levels whereas resistance is at Rs.59500 - 59700 levels.
* MCX Silver is likely to trade with 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 negative bias during today’s trading session. Support is at Rs.7430 - 7330 levels whereas resistance is at Rs. 7640 - 7740 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.723 - 719 levels whereas resistance is at Rs.731 - 735 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 723 - 719 level and resistance at 731 - 735. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 723 - 719 levels on lower side.
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