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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.75700 - 75400 levels whereas resistance is at Rs.76300 – 76600 levels.

* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.89500 - 88500 levels whereas resistance is at Rs. 91500 - 92500 levels.

* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs. 5710 - 5650 levels whereas resistance is at Rs. 5830 - 5890 levels.

* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.798 – 792 levels whereas resistance is at Rs.810 - 816 levels.

CHART OF THE DAY

MCX-CRUDE OIL (DAILY CHART)

Strategy: Intraday

* CRUDE OIL 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 5710 – 5650 level and resistance at 5830 – 5890. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 5710 – 5650 levels on lower side.

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