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 negative bias during today’s trading session. Support is at Rs.65300 - 65100 levels whereas resistance is at Rs.65800 - 66000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.75100 - 74600 levels whereas resistance is at Rs.76200 - 76700 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6580 - 6480 levels whereas resistance is at Rs. 6780 - 6880 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.757 – 752 levels whereas resistance is at Rs.767 - 772 levels.
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 757 - 752 level and resistance at 767 - 772. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 767 - 772 levels on higher side.
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