MCX Silver is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.56700 - 56500 levels whereas resistance is at Rs.57100 - 57300 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.67800 - 67300 levels whereas resistance is at Rs.68800 - 69300 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6780 - 6680 levels whereas resistance is at Rs. 6980 - 7080 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.701 – 696 levels whereas resistance is at Rs.711 - 716 levels.
CHART OF THE DAY
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session; but prices are trading below upward trend line.
* For Intraday session immediate support is at 701 - 696 level and resistance at 711 - 716. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 711 - 716 levels on higher side
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