IGI Logo

COMMODITY TECHNICAL OUTLOOK

* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.74100 - 73800 levels whereas resistance is at Rs.74800 – 75100 levels.

* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.88300 - 87300 levels whereas resistance is at Rs.90300 - 91300 levels.

* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5740 - 5680 levels whereas resistance is at Rs. 5860 - 5920 levels.

* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.794 – 788 levels whereas resistance is at Rs.806 - 812 levels.

CHART OF THE DAY

MCX-SILVER (DAILY CHART)

Strategy: Intraday

* SILVER prices traded with mild positive bias during the last trading session; but prices are trading below downward trend line.

* For Intraday session immediate support is at 88300 – 87300 level and resistance at 90300 – 91300. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 90300 – 91300 levels on lower side.

Please refer disclaimer at https://www.mnclgroup.com/disclaimer

SEBI Registration Number : INZ000043833