COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with positive bias during today’s trading session. Support is at Rs.60200 – 59900 levels whereas resistance is at Rs.60600 – 60900 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.74500 – 74000 levels whereas resistance is at Rs.75500 – 76000 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.6580 – 6480 levels whereas resistance is at Rs. 6780 – 6880 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.769 – 764 levels whereas resistance is at Rs.779 – 784 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
* SILVER prices traded with a positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 74500 – 74000 level and resistance at 75500 – 76000. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 75500 – 76000 levels on higher side.
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