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Appreciable MCX Trading Tips To Make Profit

Market Outlook

MCX Gold price was quite volatile on Monday. For upcoming session we wxpect some recovery from lower to higher side, if price manages above 31800 and above this level it will attempting to give bullish movement up to next immediate resistance of 32000. MCX Crude oil showed bullish movement and again chances of more upward side movement in upcoming trading session as well as it can also test important resistance level of 4700. MCX Copper price fall from higher levels and settles down, if price sustains below 445 levels in next period then this bearish movement can find next major support of 440 as well as bearish trend will remain active.

Fundamental News

Gold inched up on Monday, moving away from a near 4-month trough touched in the previous session, drawing support from a drop in equities and a jump in crude oil prices.

Crude Oil topped $74 a barrel on Monday, the highest since November, with the United States set to announce a further clampdown on Iranian oil exports, tightening global supplies.

Gold showed sideways to bullish movement and found the major resistance level of 31800. Now if price sustains on higher level then it will test next resistance level of 32000. On other side 31550 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 37650. Now if price sustains on higher level then it will test next resistance level of 37950. On other side 37300 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4620. Now if price sustains on higher level then it will test next resistance level of 4700. On other side 4475 will be major support level.

Copper showed sideways to bearish movement and found the major support level of 445. Now if price sustains on lower level then it will test next support level of 441. On other side 451 will be major resistance level.

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