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Essential Data in One Place For Mcx Trading

Market Outlook

MCX Gold took some correction from higher to lower side after yesterday’s bullish movement but we will still keep bullish overview for upcoming trading session, if price maintains above 38000 and lower side it has immediate support level at 37500. MCX Crude oil showed strong bearish movement on Thursday. For upcoming session, if price breaches 3600 level then it may give more down side movement towards next resistance level of 3800. MCX Cooper was quite volatile and for next session, if price holds 445 levels then we will continue to suggesting bullish bias up to next resistance level of 450 and lower side it has major support at 435.

 

Fundamental News

Gold held steady on Thursday, hovering near the key psychological level of $1,500, supported by uncertainties around Sino-U.S. trade war and a slew of interest rate cuts by global central banks amid fears of an economic slowdown.

  

Oil jumped more than $1 a barrel on Thursday due to expectations that falling prices may lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation of U.S.-China trade tensions.

   

GOLD

Gold showed sideways to bearish movement and found the major support level of 37600. Now if price sustains on lower level then it will test next support level of 37400. On other side 38100 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 42700. Now if price sustains on lower level then it will test next support level of 42400. On other side 43800 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3770. Now if price sustains on higher level then it will test next resistance level of 3850. On other side 3650 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 438. Now if price sustains on higher level then it will test next resistance level of 443. On other side 445 will be major support level.

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