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COMMODITY TECHNICAL OUTLOOK

MCX Gold is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.47100 levels whereas resistance is at Rs.47600- 47700 levels.

MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.63600 levels whereas resistance is at Rs.64400- 65100 levels. Buying above 64400 is advised targeting Rs.65100 – 65700 levels.

MCX Crude Oil is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.6150 levels whereas resistance is at Rs.6250 – 6300 levels.

 MCX Copper is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.786 levels whereas resistance is at Rs.800 – 805 levels.

CHART OF THE DAY

MCX- NATURAL GAS (DAILY CHART)

Strategy: Intraday

Natural Gas prices traded with negative bias during last trading session

It was closed below upward sloping trend line in intraday trading session.

For Intraday session immediate support is at 370 – 365 level and resistance at 390 – 396. If price sustains below the immediate support level of 370 level then it will provide further momentum towards 365 -360 levels on the lower side.

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