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.61200 - 61000 levels whereas resistance is at Rs.61600 - 61800 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.69600 - 69100 levels whereas resistance is at Rs.70600 - 71100 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 6300 - 6200 levels whereas resistance is at Rs. 6500 - 6600 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.702 – 698 levels whereas resistance is at Rs.710 - 714 levels
CHART OF THE DAY:
MCX-CRUDE OIL (DAILY CHART:
Strategy: Intraday:
* COPPER prices traded with negative bias during the last trading session; and prices are trading below downward trend line.
* For Intraday session immediate support is at 702 - 698 level and resistance at 710 - 714. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 702 - 698 levels on lower side.
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