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 positive bias during today’s trading session. Support is at Rs.61900 - 61700 levels whereas resistance is at Rs.62400 - 62600 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.70700 - 70300 levels whereas resistance is at Rs.71700 - 72200 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6540 - 6440 levels whereas resistance is at Rs. 6520 - 6620 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.720 – 716 levels whereas resistance is at Rs.728 - 732 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday:
* COPPER prices traded with positive bias during the last trading session; and prices are trading above downward trend line.
* For Intraday session immediate support is at 720 - 716 level and resistance at 728 - 732. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 728 - 732 levels on higher side
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