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.70800 - 70500 levels whereas resistance is at Rs.71300 - 71600 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.80000 - 79500 levels whereas resistance is at Rs.81000 - 81500 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6800 - 6700 levels whereas resistance is at Rs. 7000 - 7100 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.841 – 836 levels whereas resistance is at Rs.851 - 856 levels.
Strategy: Intraday
* COPPER 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 841 - 836 level and resistance at 851 - 856. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 851 - 856 levels on higher side.
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