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COMMODITY TECHNICAL OUTLOOK

MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.51600 - 51400 levels whereas resistance is at Rs.52100- 52300 levels.

MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.66300 - 65900 levels whereas resistance is at Rs.67000 - 67400 levels.

MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.7100 - 6930 levels whereas resistance is at Rs. 7470 - 7640 levels.

MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.813 - 807 levels whereas resistance is at Rs.821 - 827 levels.

CHART OF THE DAY

Strategy: Intraday

CRUDE OIL prices traded with negative bias during the last trading session and it was trading below downward slopping trend line.

For Intraday session immediate support is at 7100 - 6930 level and resistance at 7470 - 7640. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 7100 - 6930 levels on lower side.

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