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Get Profitable MCX Trading Tips| 26-Nov-2018

Market Outlook

MCX Gold yesterday broke its major support level of 30500 and also able to close below this level as well as continue with down trend. For next week may be it test 30000 i.e. next support level. MCX Crude oil continue with its bearish trend it also broke its strong support level of 3700 and it also close on lower side, if price takes some recovery from lower to higher level then it can test resistance level of 3800. MCX Copper also showed negative bias and test important support level of 428 and for next session we will continue with downward trend up to next crucial support level i.e. 420.


Fundamental News
Prices of gold slipped on Friday as investors banked on the safety of the dollar over worries about a slowdown in the global economy, exacerbated by a sharp decline in oil prices.

Crude Oil prices slumped up to nearly 8 percent to the lowest in more than a year on Friday, posting the seventh consecutive weekly loss, amid intensifying fears of a supply glut even as major producers consider cutting output.

Gold showed sideways to bearish movement and found the major support level of 30402. Now if price sustains on lower level then it will test next support level of 30220. On other side 30548 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 35776. Now if price sustains on lower level then it will test next support level of 35500. On other side 36500 will be major resistance level.

Crude oil showed sideways to bearish movement and found the major support level of 3574. Now if price sustains on lower level then it will test next support level of 3500. On other side 3806 will be major resistance level.

Copper showed sideways to bearish movement and found the major support level of 428.75. Now if price sustains on lower level then it will test next support level of 425.70. On other side 435.50 will be major resistance level.

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