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COMMODITY TECHNICAL OUTLOOK

MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.52500 - 52100 levels whereas resistance is at Rs.53100- 53500 levels.

MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.67900 - 67000 levels whereas resistance is at Rs.69300 - 70200 levels.  MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.7340 - 7040 levels whereas resistance is at Rs. 7890 - 8190 levels.

MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.812 - 805 levels whereas resistance is at Rs.824 - 831 levels.

CHART OF THE DAY

Strategy: Intraday

CRUDE OIL prices traded with positive bias during the last trading session and it was trading above downward slopping trend line.

For Intraday session immediate support is at 7340 - 7040 level and resistance at 7890 - 8190. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 7890 - 8190 levels on higher side

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