MCX Silver is likely to trade with sideways to positive 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.72300 - 72000 levels whereas resistance is at Rs.72900 - 73200 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.90500 - 89500 levels whereas resistance is at Rs.92500 - 93500 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6700 - 6600 levels whereas resistance is at Rs. 6900 - 7000 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.856 – 848 levels whereas resistance is at Rs.868 - 874 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 6700 - 6600 level and resistance at 6900 - 7000. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6900 - 7000 levels on higher side.
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