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COMMODITY TECHNICAL OUTLOOK

MCX Gold is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.46500 levels whereas resistance is at Rs.47100- 47300 levels.

MCX Silver is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.60300 levels whereas resistance is at Rs.61400- 62000 levels.

MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.5760 levels whereas resistance is at Rs.5900 – 5940 levels. Buying above 5850 is advised targeting Rs.5900 – 5940 levels.

MCX Copper is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.710 levels whereas resistance is at Rs.725 – 734 levels. Buying above 725 is advised targeting Rs.734 – 738 levels.

CHART OF THE DAY MCX

CRUDE OIL (DAILY CHART)

Strategy: Intraday

CRUDE OIL prices traded with positive bias during last trading session

It was closed above upward sloping trend line in intraday trading session.

For Intraday session immediate support is at 5760 – 5700 level and resistance at 5900 – 5940. If price sustains above the immediate resistance level of 5850 level then it will provide further momentum towards 5900 - 5940 levels on the higher side.

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