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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.71100 - 70800 levels whereas resistance is at Rs.71700 - 72000 levels.

* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.87700 - 86700 levels whereas resistance is at Rs.89800 - 90800 levels.  

* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6220 - 6120 levels whereas resistance is at Rs. 6420 - 6520 levels.

* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.845 – 837 levels whereas resistance is at Rs.860 - 868 levels.  

CHART OF THE DAY

MCX-COPPER (DAILY CHART) 

Strategy: Intraday  

* COPPER 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 845 - 837 level and resistance at 860 - 868. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 845 - 837 levels on lower side.  

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