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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.78100 - 77700 levels whereas resistance is at Rs.78900 – 79300 levels.

* MCX Silver is likely to trade with sideways to negative 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 sideways to negative bias during today’s trading session. Support is at Rs. 5950 - 5880 levels whereas resistance is at Rs. 6120 - 6200 levels.

* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.830 – 824 levels whereas resistance is at Rs.842 - 848 levels.

CHART OF THE DAY

MCX-CRUDE OIL (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 830 – 824 level and resistance at 842 – 848. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 830 – 824 levels on lower side.

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