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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.47000 levels whereas resistance is at Rs.47400- 47600 levels. Selling is advised below Rs.47000 levels for the target prices of Rs.46800 – 46600 levels

MCX Silver is likely to trade with sideway to negative bias during today’s trading session. Support is at Rs.63300 levels whereas resistance is at Rs.64000 – 64300 levels. Selling is advised below Rs.63300 levels for the target prices of Rs.63000 – 62700 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. 718 levels whereas resistance is at Rs.729 - 736 levels. Buying above 729 is advised targeting Rs.736-740 levels

CHART OF THE DAY

MCX- NATURAL GAS (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 729 levels whereas 718 and 714 will act as an immediate support levels

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