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COMMODITY TECHNICAL OUTLOOK

* MCX Gold is likely to trade with negative bias during today’s trading session. Support is at Rs.55800 - 55600 levels whereas resistance is at Rs.56200 - 56400 levels.

* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.65000 - 64600 levels whereas resistance is at Rs.65800 - 66200 levels.

* MCX Crude Oil is likely to trade negative bias during today’s trading session. Support is at Rs.6080 - 5960 levels whereas resistance is at Rs. 6280 - 6400 levels.

* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.780 - 776 levels whereas resistance is at Rs.788 - 792 levels

CHART OF THE DAY

MCX-CRUDE OIL (DAILY CHART)

Strategy: Intraday

* CRUDE OIL prices traded with negative bias during the last trading session; and prices are trading below downward trend line.

* For Intraday session immediate support is at 6080 – 5960 level and resistance at 6280 - 6400. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6080 - 5960 levels on lower side.

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