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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.77700 - 77400 levels whereas resistance is at Rs.78300 – 78600 levels.

* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.91500 - 90500 levels whereas resistance is at Rs. 93500 - 94500 levels.

* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 5910 - 5850 levels whereas resistance is at Rs. 6050 - 6120 levels.

* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.816 – 810 levels whereas resistance is at Rs.828 - 834 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 downward trend line.

* For Intraday session immediate support is at 5910 – 5850 level and resistance at 6050 – 6120. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6050 – 6120 levels on higher side.

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