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COMMODITY TECHNICAL OUTLOOK

* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.68700 - 68400 levels whereas resistance is at Rs.69300 – 69600 levels.

* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.78500 - 77500 levels whereas resistance is at Rs.80600 - 81600 levels.

* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6100 - 6030 levels whereas resistance is at Rs. 6260 - 6340 levels.

* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.776 – 770 levels whereas resistance is at Rs.788 - 794 levels.

CHART OF THE DAY

MCX-COPPER (DAILY CHART)

Strategy: Intraday

* COPPER prices traded with positive bias during the last trading session; but prices are trading below downward trend line.

* For Intraday session immediate support is at 776 – 770 level and resistance at 788 – 794. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 776 – 770 levels on lower side.

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