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SILVER prices traded with negative bias during the last trading session - Monarch Networth Capital Ltd
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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.75300 - 75000 levels whereas resistance is at Rs.75900 – 76200 levels.
*MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.89800 - 89000 levels whereas resistance is at Rs.91300 - 92000 levels.
*MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 5830 - 5890 levels whereas resistance is at Rs. 5670 - 5600 levels.
*MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.847 – 840 levels whereas resistance is at Rs.860 - 867 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
*SILVER 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 89800 – 89000 level and resistance at 91300 – 92000. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 89800 – 89000 levels on lower side.
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