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MCX Silver is likely to trade with sideways to negative 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 negative bias during today’s trading session. Support is at Rs.71300 - 71000 levels whereas resistance is at Rs.71900 - 72200 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.88200 - 87200 levels whereas resistance is at Rs.90200 - 91200 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6650 - 6550 levels whereas resistance is at Rs. 6850 - 6950 levels.
* MCX Copper is likely to trade with negative 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-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below upward trend line.
* For Intraday session immediate support is at 840 - 835 level and resistance at 850 - 855. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 840 - 835 levels on lower side.
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