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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.56000 - 55800 levels whereas resistance is at Rs.56500 - 56700 levels.

* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.65200 - 64800 levels whereas resistance is at Rs.66000 - 66400 levels.

* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.6200 - 6100 levels whereas resistance is at Rs. 6460 - 6560 levels.

* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.771 - 766 levels whereas resistance is at Rs.779 - 784 levels.

CHART OF THE DAY

MCX-CRUDE OIL (DAILY CHART)

Strategy: Intraday

* CRUDE OIL 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 6200 – 6100 level and resistance at 6460 - 6560. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6200 - 6100 levels on lower side.

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