facebook

Learn To Invest With Our Mcx Trading Tips

Market Outlook

MCX Gold price returned to test 31900 level and keeps its stability above it, which keeps the bullish trend scenario valid until now, Oil price begins today’s trading with bearish bias to break 3630 level and settles below it, which hints the price head to turn to decline and stop the bullish wave, We should note that breaching 3630 and holding above it again will reactivate the bullish trend scenario that its first target located at 3760. MCX Copper price failed to provide any new positive rally to be affected by the major indicators’ negativity and start providing new sideways trades by moving above 410 level.

Fundamental News

On Monday in Asia Gold prices edged up while the U.S. dollar was little changed as investors await further news on additional rate hikes in the coming months. On Monday in Asia Crude Oil prices fell 1% after China reported weakening imports and exports in the world’s second-largest crude oil consumer.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 32220. Now if price sustains on higher level then it will test next resistance level of 32350. On other side 31975 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 39639. Now if price sustains on higher level then it will test next resistance level of 39950. On other side 39279 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3670. Now if price sustains on higher level then it will test next resistance level of 3750. On other side 3576 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 411. Now if price sustains on lower level then it will test next support level of 408. On other side 415.80 will be major resistance level.

(Click to submit your details) Just one step to get best trading tips and Recommendation.

 

Leave a Reply