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SILVER prices traded with positive bias during the last trading session; and prices are trading above upward trend line. - 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.71700 - 71400 levels whereas resistance is at Rs.72300 - 72600 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.93600 - 92600 levels whereas resistance is at Rs.95600 - 96600 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6450 - 6350 levels whereas resistance is at Rs. 6650 - 6750 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.892 – 885 levels whereas resistance is at Rs.908 - 915 levels.
CHART OF THE DAY
MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* SILVER prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 93600 - 92600 level and resistance at 95600 - 96600. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 95600 - 96600 levels on higher side.
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