MCX Silver is likely to trade with positive 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 positive bias during today’s trading session. Support is at Rs.70800 - 70500 levels whereas resistance is at Rs.71200 - 71500 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.80100 - 79600 levels whereas resistance is at Rs.81100 - 81600 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6840 - 6740 levels whereas resistance is at Rs. 7040 - 7140 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.834 – 830 levels whereas resistance is at Rs.843 - 847 levels.
Strategy: Intraday
* SILVER prices traded with mild positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 80100 - 79600 level and resistance at 81100 - 81600. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 81100 - 81600 levels on higher side.
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