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.62200 - 62000 levels whereas resistance is at Rs.62800 - 63000 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.70400 - 70000 levels whereas resistance is at Rs.71200 - 71600 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6200 - 6300 levels whereas resistance is at Rs. 6400 - 6500 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.702 – 698 levels whereas resistance is at Rs.710 - 714 levels
Strategy: Intraday
* CRUDE OIL 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 6200 - 6300 level and resistance at 6400 - 6500. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6400 - 6500 levels on higher side.
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