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MCX Silver is likely to trade with positive 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 positive bias during today’s trading session. Support is at Rs.72700 - 72400 levels whereas resistance is at Rs.73300 - 73600 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.92500 - 91500 levels whereas resistance is at Rs.94500 - 95500 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6860 - 6760 levels whereas resistance is at Rs. 7060 - 7160 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.869 – 863 levels whereas resistance is at Rs.880 - 886 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
* SILVER prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 92500 - 91500 level and resistance at 94500 - 95500. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 94500 - 95500 levels on higher side.
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