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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.60800 - 60600 levels whereas resistance is at Rs.61200 - 61400 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.71700 - 71200 levels whereas resistance is at Rs.72800 - 73300 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6600 - 6500 levels whereas resistance is at Rs. 6800 - 6900 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.706 – 702 levels whereas resistance is at Rs.714 - 718 levels.
CHART OF THE DAY
Strategy: Intraday
* COPPER prices traded with mild negative bias during the last trading session; but prices are trading above upward trend line.
* For Intraday session immediate support is at 706 - 702 level and resistance at 714 - 718. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 714 - 718 levels on higher side.
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