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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.72000 - 71700 levels whereas resistance is at Rs.72700 - 73000 levels.  

* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.94500 - 93600 levels whereas resistance is at Rs.96400 - 97300 levels.  

* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6550 - 6450 levels whereas resistance is at Rs. 6740 - 6840 levels.  

* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.900 – 892 levels whereas resistance is at Rs.916 - 924 levels.  

CHART OF THE DAY

MCX-CRUDE OIL (DAILY CHART)

Strategy: Intraday

* SILVER prices traded with positive bias during the last trading session; and prices are trading above upward trend line.

* For Intraday session immediate support is at 94500 - 93600 level and resistance at 96400 - 97300. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 96400 - 97300 levels on higher side.

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