MCX Silver is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital Ltd
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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.71900 - 71700 levels whereas resistance is at Rs.72400 – 72600 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.86200 - 85500 levels whereas resistance is at Rs.88000 - 88700 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6280 - 6200 levels whereas resistance is at Rs. 6430 - 6510 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.802 – 797 levels whereas resistance is at Rs.813 - 818 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
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 6280 – 6200 level and resistance at 6430 – 6510. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6430 – 6510 levels on lower side.
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