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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.71300 - 71100 levels whereas resistance is at Rs.71900 – 72100 levels.

* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.84300 - 83500 levels whereas resistance is at Rs.86000 - 86700 levels.

* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6140 - 6060 levels whereas resistance is at Rs. 6280 - 6350 levels.

* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.800 – 794 levels whereas resistance is at Rs.811 - 816 levels.

CHART OF THE DAY

MCX-SILVER (DAILY CHART)

Strategy: Intraday

* SILVER 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 84300 – 83500 level and resistance at 86000 – 86700. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 84300 – 83500 levels on lower side.

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