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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.68000 - 67700 levels whereas resistance is at Rs.68800 – 69100 levels.

* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.81500 - 80500 levels whereas resistance is at Rs.83600 - 84600 levels.

* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 6030 - 5950 levels whereas resistance is at Rs. 6220 - 6300 levels.

* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.772 – 766 levels whereas resistance is at Rs.783 - 789 levels.

CHART OF THE DAY

MCX-CRUDE OIL (DAILY CHART)

Strategy: Intraday

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

* For Intraday session immediate support is at 6030 – 5950 level and resistance at 6220 – 6300. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 6030 – 5950 levels on lower side.

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