SILVER prices traded with positive bias during the last trading session; and prices are trading above downward trend line - Monarch Networth Capital Ltd
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.76800 - 76500 levels whereas resistance is at Rs.77400 – 77700 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.92300 - 91300 levels whereas resistance is at Rs. 94300 - 95300 levels.
* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 5780 - 5720 levels whereas resistance is at Rs. 5910 - 5970 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.816 – 810 levels whereas resistance is at Rs.826 - 832 levels.
CHART OF THE DAY
MCX- SILVER (DAILY CHART)
Strategy: Intraday
* SILVER 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 92300 – 91300 level and resistance at 94300 – 95300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 94300 – 95300 levels on higher side
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