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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.69600 - 69400 levels whereas resistance is at Rs.70100 - 70400 levels.

* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.79500 - 79000 levels whereas resistance is at Rs.80600 - 81000 levels.

* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 7050 - 6950 levels whereas resistance is at Rs. 7260 - 7360 levels.

* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.796 – 790 levels whereas resistance is at Rs.811 - 817 levels.

CHART OF THE DAY

MCX-CRUDE OIL (DAILY CHART)

Strategy: Intraday

* CRUDE OIL prices traded with mild negative bias during the last trading session; but prices are trading above trend line.

* For Intraday session immediate support is at 7050 - 6950 level and resistance at 7260 - 7360. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 7260 - 7360 levels on higher side.

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