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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.62200 - 62000 levels whereas resistance is at Rs.62700 - 62900 levels.

* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.74400 - 74000 levels whereas resistance is at Rs.75400 - 75800 levels.

* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6050 - 5980 levels whereas resistance is at Rs. 6220 - 6300 levels.

* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.7233 – 719 levels whereas resistance is at Rs.731 - 735 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 above upward trend line.

* For Intraday session immediate support is at 6050 - 5980 level and resistance at 6220 - 6300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6220 - 6300 levels on higher side.

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