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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.71000 - 70700 levels whereas resistance is at Rs.71600 - 71900 levels.  

* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.90000 - 89500 levels whereas resistance is at Rs.91000 - 91500 levels.  

* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6350 - 6250 levels whereas resistance is at Rs. 6550 - 6650 levels.  

* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.887 – 882 levels whereas resistance is at Rs.897 - 902 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 887 - 882 level and resistance at 897 - 902. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 887 - 882 levels on lower side.

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