COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with negative bias during today’s trading session. Support is at Rs.60300 – 60000 levels whereas resistance is at Rs.60900 – 61200 levels.
* MCX Silver is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.74000 – 73600 levels whereas resistance is at Rs.75200 – 75800 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. 6720 – 6820 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.765 – 760 levels whereas resistance is at Rs.775 – 780 levels.
CHART OF THE DAY
MCX-GOLD (DAILY CHART)
Strategy: Intraday
* GOLD prices traded with a negative bias during the last trading session; and prices made RSI negative divergence on daily chart.
* For Intraday session immediate support is at 60300 – 60000 level and resistance at 60900 – 61200. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 60300 – 60000 levels on lower side.
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