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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 positive bias during today’s trading session. Support is at Rs.67500 - 67200 levels whereas resistance is at Rs.68000 - 68300 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.74500 - 74000 levels whereas resistance is at Rs.75500 - 76000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6800 - 6700 levels whereas resistance is at Rs. 7000 - 7100 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.757 – 753 levels whereas resistance is at Rs.765 - 769 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with positive bias during the last trading session; and prices are trading above trend line.
* For Intraday session immediate support is at 6800 - 6700 level and resistance at 7000 - 7100. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 7000 - 7100 levels on higher side.
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