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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.46300 levels whereas resistance is at Rs.46700- 46900 levels.

MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.59700 levels whereas resistance is at Rs.61200- 61900 levels. Buying above 61200 is advised targeting Rs.61900 – 62300 levels.

MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5550 levels whereas resistance is at Rs.5670 – 5740 levels. Buying above 5670 is advised targeting Rs.5740 – 5770 levels.

MCX Copper is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.697 levels whereas resistance is at Rs.716 – 728 levels. Buying above 716 is advised targeting Rs.722 – 728 levels.

CHART OF THE DAY MCX

SILVER (2- HOURLY CHART)

Strategy: Intraday

SILVER 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 59700 – 59000 level and resistance at 61200 – 61900. If price sustains above the immediate resistance level of 61200 level then it will provide further momentum towards 61900 - 62300 levels on the higher side

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