IGI Logo

COMMODITY TECHNICAL OUTLOOK

* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.47000 levels whereas resistance is at Rs.48100- 48400 levels. Buying is advised above Rs.47600 levels for the target prices of Rs.48100 – 48400 levels

* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.61800 levels whereas resistance is at Rs.63800 – 64200 levels. Buying is advised above Rs.63000 levels for the target prices of Rs.63800 – 64200 levels

* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.4800 levels whereas resistance is at Rs.5000 – 5030 levels. Buying above 4900 is advised targeting Rs.5000-5030 levels

* MCX Copper looks strong if Rs.712 level is breached. Buying above Rs.712 is advised targeting Rs.720-728 levels

CHART OF THE DAY

MCX- CRUDE OIL (DAILY CHART)

Strategy: Intraday

* CRUDE OIL prices traded with positive bias during the last trading session

* It is having a support of horizontal trend line and sustaining above the same

* For Intraday session we expect CRUDE OIL prices to extend upside if price sustains above 4900 levels whereas 4830 and 4800 will act as an immediate support levels

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