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MCX Silver is likely to trade with sideways to negative bias during today`s trading session - Monarch Networth Capital LtdCOMMODITY TECHNICAL OUTLOOK
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.72500 - 72200 levels whereas resistance is at Rs.73000 - 73300 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.83000 - 82500 levels whereas resistance is at Rs.84000 - 84500 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6780 - 6680 levels whereas resistance is at Rs. 7000 - 7100 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.840 – 835 levels whereas resistance is at Rs.850 - 855 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* COPPER 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 840 - 835 level and resistance at 850 - 855. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 850 - 855 levels on higher side.
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