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COMMODITY TECHNICAL OUTLOOK

* MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.76200 - 75900 levels whereas resistance is at Rs.76800 – 77100 levels.

* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.89000 - 88000 levels whereas resistance is at Rs. 91000 - 92000 levels.

* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5780 - 5700 levels whereas resistance is at Rs. 5880 - 5940 levels.

* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.801 – 795 levels whereas resistance is at Rs.813 - 819 levels.

CHART OF THE DAY

MCX-GOLD (DAILY CHART)

Strategy: Intraday

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

* For Intraday session immediate support is at 76200 – 75900 level and resistance at 76800 – 77100. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 76800 – 77100 levels on higher side.

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