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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.71200 - 71000 levels whereas resistance is at Rs.71600 – 71800 levels.

* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.82000 - 81500 levels whereas resistance is at Rs.83400 - 84000 levels.

* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 5650 - 5600 levels whereas resistance is at Rs. 5750 - 5800 levels.

* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.777 – 772 levels whereas resistance is at Rs.787 - 792 levels.

CHART OF THE DAY

MCX-CRUDE OIL (DAILY CHART)

Strategy: Intraday

* CRUDE OIL 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 5650 – 5600 level and resistance at 5750 –5800. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 5650 – 5600 levels on lower side.

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