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Free Mcx Tips and News Via Experts

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Market Outlook:

Gold and silver showed sideways movement and traded in the range bound market. In coming session low trading activity can be seen in the market. Trading short term movement could be profitable in coming session. Crude oil showed bearish movement and short term trend of crude is also bearish. Lower level can be seen in crude oil so selling would be profitable in strategy. Base metals showed strong movement on positive economic data from china. In coming session more bullishness can be seen in the market. Buying would be profitable strategy in base metals because of strong movement.

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Fundamental News:

1). Gold fell one percent before paring losses on Monday as the demand for safe-haven assets waned with a coup attempt in Turkey failing to deter risk sentiments.

2). Crude prices turned lower from the Asia-session gains seen Monday as investors focused their bets on favorable growth data reported by the U.S. and China but remained worried about global over-supply.

gold

Gold showed sideways movement and touched the level of 30850 and closed around 31000. Now if it will close below the important support level of 30700 then 30500 will act as next support level. On higher side 31200 will act as vital resistance level.

silver

Silver showed sideways to bearish movement. Now if it will break the resistance level of 47800 then 48800 will act as next resistance level. On lower side 46500 will act as vital support level.

crude

Crude oil showed correction on lower side and found resistance of 3010. Now if it will sustain below 3010 then 2980 will be next support level. On the other hand 3065 will act as important resistance level.

copper

Copper showed strength in morning session but not able to hold on higher levels and drag towards the support level of 333. Now if it will break the support level of 332 then 328 will act as next support level. On the other hand 336 will act as a major resistance level.

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