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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.46700 levels whereas resistance is at Rs.47000- 47200 levels.

MCX Silver is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.60700 levels whereas resistance is at Rs.61700- 62100 levels.

MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5800 levels whereas resistance is at Rs.5900 – 5960 levels. Buying above 5900 is advised targeting Rs.5960 – 6000 levels.

MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.715 levels whereas resistance is at Rs.729 – 738 levels. Buying above 729 is advised targeting Rs.738 – 744 levels.

CHART OF THE DAY MCX

CRUDE OIL (DAILY CHART)

Strategy: Intraday

CRUDE OIL prices traded with positive bias during last trading session

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

For Intraday session immediate support is at 5800 – 5760 level and resistance at 5900 – 5960. If price sustains above the immediate resistance level of 5900 level then it will provide further momentum towards 5960 - 6000 levels on the higher side.

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