IGI Logo

COMMODITY TECHNICAL OUTLOOK

* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.47300 levels whereas resistance is at Rs.48500- 48600 levels. Selling is advised below Rs.47800 levels for the target prices of Rs.47300 – 47100 levels

* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.66500 levels whereas resistance is at Rs.69000 – 69500 levels. Selling is advised below Rs.67500 levels for the target prices of Rs.66500 – 66000 levels

* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.5220 levels whereas resistance is at Rs.5350 – 5400 levels. Selling below 5280 is advised targeting Rs.5220-5180 levels

* MCX Copper looks weak if Rs.740 level is breached. Selling below Rs.740 is advised targeting Rs.730-725 levels.

CHART OF THE DAY

MCX- CRUDE OIL (DAILY CHART)

Strategy: Intraday

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

* It faced resistance of downward sloping trend line and settled below the same

* For Intraday session we expect CRUDE OIL prices to extend downside if price sustains below 5280 levels whereas 5350 and 5400 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