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.57400 - 57200 levels whereas resistance is at Rs.57800 - 58000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.68500 - 68000 levels whereas resistance is at Rs.69400 - 69900 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.7060 - 6960 levels whereas resistance is at Rs. 7260 - 7360 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.700 – 695 levels whereas resistance is at Rs.710 - 715 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below upward trend line.
* For Intraday session immediate support is at 700 - 695 level and resistance at 710 - 715. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 700 - 695 levels on lower side.
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