24-06-2024 08:52 AM | Source: Monarch Networth Capital Ltd
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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