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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.57500 - 57300 levels whereas resistance is at Rs.58000 - 58200 levels.

* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.70000 - 69600 levels whereas resistance is at Rs.71800 - 72200 levels.

* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.7700 - 7600 levels whereas resistance is at Rs. 7900 - 8000 levels.

* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.705 – 701 levels whereas resistance is at Rs.713 - 717 levels. 

CHART OF THE DAY 

MCX-CRUDE OIL (DAILY CHART)

Strategy: Intraday 

* CRUDE OIL prices traded with positive bias during the last trading session; and prices are trading below upward trend line.

* For Intraday session immediate support is at 7700 - 7600 level and resistance at 7900 - 8000. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 7900 - 8000 levels on higher side

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