IGI Logo

COMMODITY TECHNICAL OUTLOOK

* MCX Gold is likely to trade sideways to negative bias during today’s trading session. Support is at Rs.47900 levels whereas resistance is at Rs.48300- 48500 levels.

* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.60200 levels whereas resistance is at Rs.61500- 62000 levels. Selling below 60200 is advised targeting Rs. 59600 – 59200 levels.

* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.5280 levels whereas resistance is at Rs.5450 – 5500 levels. Selling below 5280 is advised targeting Rs. 5230 – 5200 levels.

* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.728 levels whereas resistance is at Rs.734 – 737 levels. Selling below 728 is advised targeting Rs. 725 – 722 levels.

CHART OF THE DAY

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 279 –275 level and resistance at 291 – 296. If price sustains below the immediate support level of 279 level then it will provide further momentum towards 275 – 271 levels on the lower side.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at  https://www.mnclgroup.com/disclaimer

SEBI Registration Number : INZ000043833

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer