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COMMODITY TECHNICAL OUTLOOK

MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.47200 levels whereas resistance is at Rs.47700- 48000 levels. Buying is advised above Rs.47700 levels for the target prices of Rs.48000 – 48200 levels

MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.63000 levels whereas resistance is at Rs.63800 – 64200 levels. Buying is advised above Rs.63800 levels for the target prices of Rs.64200 – 64500 levels

MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 5000 levels whereas resistance is at Rs.5110 – 5160 levels. Buying above 5110 is advised targeting Rs.5160-5200 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.726 - 730 levels. Buying above 722 is advised targeting Rs.726-730 levels

CHART OF THE DAY

MCX- NATURAL GAS (DAILY CHART)

Strategy: Intraday

NATURAL GAS prices traded with positive bias during the last trading session

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

For Intraday session we expect NATURAL GAS prices to extend upside if price sustains above 325 levels whereas 315 and 310 will act as an immediate support levels

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