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COMMODITY TECHNICAL OUTLOOK

MCX Gold is likely to trade with negative bias during today’s trading session. Support is at Rs.50300 - 50100 levels whereas resistance is at Rs.50800- 51000 levels.

MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.60000 - 59400 levels whereas resistance is at Rs.61600 - 62200 levels.

MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.7580 - 7480 levels whereas resistance is at Rs. 7900 - 8000 levels.

MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.745 - 737 levels whereas resistance is at Rs.763 - 771 levels.

CHART OF THE DAY

Strategy: Intraday

CRUDE OIL prices traded with negative bias during the last trading session; prices are trading below downward slopping trend line.

For Intraday session immediate support is at 7580 - 7480 level and resistance at 7900 - 8000. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 7580 - 7480 levels on lower side

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