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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.77400 - 77000 levels whereas resistance is at Rs.78200 – 78600 levels.

* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.96000 - 95000 levels whereas resistance is at Rs.98000 - 99000 levels.

* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 5920 - 5840 levels whereas resistance is at Rs. 6040 - 6100 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.812 - 818 levels.

CHART OF THE DAY

MCX-CRUDE OIL (DAILY CHART)

Strategy: Intraday

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

* For Intraday session immediate support is at 5920 – 5840 level and resistance at 6040 – 6100. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6040 – 6100 levels on higher side

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