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Best MCX Signal Software To Meet Your Requirements 03rd October 18

Market Outlook

MCX Gold price shows more trading around 30550 level, we will keep our bearish overview in the upcoming period conditioned by the price stability below 30550 and the most important 30750, oil price attempts to return to the main bullish channel that appears on the chart, as it faces solid resistance formed by the broken support of this channel at 5345, MCX Copper price affected by the stability of the resistance at 464, to provide new negative fluctuation attempting to press on the initial support at 439 level, trading range for today is between 457 and 448.

Fundamental News

On Monday Gold prices dipped on Monday as the dollar firmed in the wake of indications from the U.S. Federal Reserve last week that it will pursue a tighter monetary policy.

 

On Monday crude oil prices rose to their highest since November 2014 on Monday ahead of U.S. sanctions against Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), that kicks in next month.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 30980. Now if price sustains on higher level then it will test next resistance level of 31098. On other side 30683 will be major support level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 38055. Now if price sustains on lower level then it will test next support level of 37506. On other side 38607 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 5512. Now if price sustains on higher level then it will test next resistance level of 5651. On other side 5325 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 456.85. Now if price sustains on higher level then it will test next resistance level of 460.35. On other side 446.40 will be major support level.

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