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Make Higher Profit with MCX Trading Tips

Market Outlook

MCX Gold slips from higher levels on Thursday duw to weak dollar as well as it also breached its major support of 32000 and if price sustains below this level in next session then we will keep bearish overview towards next support of 31800. MCX Crude oil also fell from higher levels and settled down and right now, it has immediate support at 4000 and below this level we will continue to suggest down trend and if it takes quick recovery from lower to higher side then this momentum can test resistance of 4100. MCX Copper showed strong bearish movement and broke 450 levels and bearish scenario will remain active in next trading session towards next support of 440.

Fundamental News

Prices of Gold fell on Thursday as the dollar regained some ground and uncertainty over Brexit eased, but the metal held close to a two-week high hit in the previous session as tepid U.S. inflation data cemented expectations that the Federal Reserve would hold rates.

Crude Oil prices nudged higher on Thursday to sit just off a four-month high reached in the previous session as investors focused on global production cuts and supply disruptions in Venezuela.

Gold showed sideways to bearish movement and found the major support level of 31750. Now if price sustains on lower level then it will test next support level of 31550. On other side 32200 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 38706. Now if price sustains on lower level then it will test next support level of 39000. On other side 37900 will be major resistance level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4100. Now if price sustains on higher level then it will test next resistance level of 4160. On other side 4020 will be major support level.

Copper showed sideways to bearish movement and found the major support level of 443.80. Now if price sustains on lower level then it will test next support level of 428. On other side 452.70 will be major resistance level.

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