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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.46800 levels whereas resistance is at Rs.47300- 47500 levels.

MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.60900 levels whereas resistance is at Rs.62700- 63500 levels.

MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5900 levels whereas resistance is at Rs.6000 – 6040 levels. Buying above 5960 is advised targeting Rs.6000 – 6040 levels.

MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.723 levels whereas resistance is at Rs.733 – 739 levels. Buying above 733 is advised targeting Rs.739 – 742 levels.

CHART OF THE DAY

MCX-COPPER (DAILY CHART)

Strategy: Intraday

COPPER prices traded with positive bias during last trading session

It was closed above downward sloping trend line in intraday trading session.

For Intraday session immediate support is at 723 – 717 level and resistance at 733 – 739. If price sustains above the immediate resistance level of 733 level then it will provide further momentum towards 739 - 742 levels on the higher side.

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