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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 positive bias during today’s trading session. Support is at Rs.71000 - 70700 levels whereas resistance is at Rs.71600 - 71900 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.90000 - 89500 levels whereas resistance is at Rs.91000 - 91500 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6350 - 6250 levels whereas resistance is at Rs. 6550 - 6650 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.887 – 882 levels whereas resistance is at Rs.897 - 902 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below downward trend line.
* For Intraday session immediate support is at 887 - 882 level and resistance at 897 - 902. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 887 - 882 levels on lower side.
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