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.61900 - 61600 levels whereas resistance is at Rs.62400 - 62700 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.71500 - 71000 levels whereas resistance is at Rs.72600 - 73100 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 5900 - 5800 levels whereas resistance is at Rs. 6100 - 6200 levels.
* MCX Copper is likely to trade with sideway to positive bias during today’s trading session. Support is at Rs.710 – 706 levels whereas resistance is at Rs.719 - 723 levels.
Strategy: Intraday
* CRUDE OIL 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 5900 - 5800 level and resistance at 6100 - 6200. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6100 - 6200 levels on higher side.
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