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Easy Trading With Online Mcx Updates

Market Outlook

MCX Gold took correction from higher levels and also unable to hold 34000 levels. For next session if price sustains below 33500 then it will remain continue with downward trend. MCX Crude oil was quite volatile and trades in a range. It has important resistance of 4150 and lower side immediate support of 4030. If price maintains above 4100 in next trading session then bullish trend will be active up to next resistance level. MCX Copper also took some correction and test immediate support of 455 and if price sustains below this level then it can test next support of 450 and upward side it has important resistance of 460.

Fundamental News

Prices of Gold was trading below the previous session’s 10-month peak on Thursday as the dollar gained after minutes from the last U.S. Federal Reserve meeting rekindled expectations of another rate hike this year. Prices of crude oil hovered around 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran, but were capped by slowing growth in the global economy.

GOLD

Gold showed sideways to bearish movement and found the major support level of 33500. Now if price sustains on lower level then it will test next support level of 33400. On other side 33799 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 40165. Now if price sustains on lower level then it will test next support level of 39900. On other side 40556 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4042. Now if price sustains on lower level then it will test next support level of 3950. On other side 4110 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 453.75. Now if price sustains on lower level then it will test next support level of 450. On other side 457.45 will be major resistance level.

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