MCX Gold Feb after the strength so gained in the previous session continued the positive momentum. It may sustain higher till it maintain above 37800 whereas closing below this can drag it futher. On higher side, 38000 is still maintained as important resistance. MCX Crude is moving in a range since past few sessions where 4200 has been acting as important resistance whereas 4120 is seen as immediate support. MCX Copper showed weak trend for the third consecutive session and Now, 438 is seen as key resistance for the metal while 431 as support.
Gold prices were little changed on Friday as investors refrained from making big bets amid doubts whether the United States and China could seal a trade deal.
Oil prices dipped on Friday in muted activity because of the U.S. Thanksgiving holiday while OPEC watchers expect an extension to a pact to throttle oil output but no deeper cuts to be agreed by the producer group and its allies next week.
Gold showed bullish movement and major support around level of 37700. Now if price sustains on lower level then it will test next support level of 37500. 38100 will be major resistance level.
Silver showed bullish movement and major support around level of 43900. Now if price sustains on lower level then it will test next support level of 43600. On other side 45000 will be major resistance level.
Crude oil showed bearish movement and major support level of 4000. Now if price sustains on lower level then it will test next support level of 3900. On other side 4100 will be major resistance level.
Copper showed bearish movement and found major resistance around level of 435. Now if price sustain on lower level then support level will be 430. And 437 will be major resistance level.
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