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Finding The Best MCX Signals To Trade 08th Oct. 18

 Market Outlook

MCX Gold showed strong bullish movement after a long time due to strong dollar and it also broke major resistance level of 31500 and for next trading session we will continue to suggest upward trend. MCX Crude oil was quite volatile and also took some correction from higher levels and test support level of 5500 but daily trend still looks bullish. MCX Copper again test 460 levels buy it was unable to hold this level and for next upcoming period it may take some correction and test major support level of 450.

Fundamental News

Precious metals rose advancing in the bullish $1,200 territory and notching its best weekly gain in six after disappointing U.S. nonfarm payrolls for September weighed on the dollar and prompted investors to seek alternative assets.

Markets of crude oil notched their fourth weekly gain for their longest winning streak since May, with focus remaining on upcoming U.S. sanctions against Iran, despite mixed price settlements on Friday.

 

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 31670. Now if price sustains on higher level then it will test next resistance level of 31800. On other side 31261 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 39360. Now if price sustains on higher level then it will test next resistance level of 39749. On other side 38715 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 5591. Now if price sustains on higher level then it will test next resistance level of 5644. On other side 5469 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 452.10. Now if price sustains on lower level then it will test next support level of 446.10. On other side 459.80 will be major resistance level.

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