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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.70400 - 70100 levels whereas resistance is at Rs.71000 - 71300 levels.

* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.80900 - 80400 levels whereas resistance is at Rs.81900 - 82400 levels.

* MCX Crude Oil is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs. 6500 - 6400 levels whereas resistance is at Rs. 6700 - 6800 levels.

*  MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.842 – 838 levels whereas resistance is at Rs.850 - 854 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 842 - 838 level and resistance at 850 - 854. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 842 - 838 levels on lower side.

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