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COMMODITY TECHNICAL OUTLOOK

MCX Gold is likely to trade with sideway to negative bias during today’s trading session. Support is at Rs.46700 levels whereas resistance is at Rs.47400- 47600 levels. Selling is advised below Rs.46700 levels for the target prices of Rs.46500 – 46300 levels

MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.63000 levels whereas resistance is at Rs.63800 – 64200 levels. Selling is advised below Rs.63000 levels for the target prices of Rs.62600 – 62300 levels

MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 4970 levels whereas resistance is at Rs.5070 – 5130 levels. Buying above 5070 is advised targeting Rs.5130-5160 levels

MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs. 714 levels whereas resistance is at Rs.725 - 730 levels. Buying above 725 is advised targeting Rs.730-735 levels

CHART OF THE DAY

MCX- COPPER (DAILY CHART)

Strategy: Intraday

COPPER prices traded with positive bias during the last trading session

It was closed above the upward trend line in intraday trading session

For Intraday session we expect COPPER prices to extend upside if price sustains above 725 levels whereas 714 and 710 will act as an immediate support levels

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