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MCX Market Trading News & Updates

Market Outlook

MCX Gold price falls from higher levels on Monday and it also test its immediate support of 31600 and in upcoming sessions we will keep bearish overview towards next support level of 31500. MCX Crude oil jumped and it also broke 4200 levels and if price manages of 4300 in next period then we will continue to suggests bullish scenario up to next resistance level of 4400 and lower side it has initial support at 4150. MCX Copper took some correction from higher levels and unable to maintains above 455, If price holds 460 in next session then we expect bullish bias as well as price can take upward side movement up to next resistance level i.e. 465 levels.

Fundamental News

Gold prices slipped on Monday as upbeat Chinese economic data and signs of progress in Sino-U.S. trade talks eased some concerns about a slowdown in economic growth and boosted appetite for riskier assets.

Oil prices rose on Monday, adding to gains in the first quarter when the major benchmarks posted their biggest increases in nearly a decade, as concerns about supplies outweigh fears of a slowing global economy.

Gold showed sideways to bearish movement and found the major support level of 31800. Now if price sustains on lower level then it will test next support level of 31650. On other side 32000 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 37500. Now if price sustains on lower level then it will test next support level of 37200. On other side 37850 will be major resistance level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4300. Now if price sustains on higher level then it will test next resistance level of 4370. On other side 4190 will be major support level.

Copper showed sideways to bearish movement and found the major support level of 447. Now if price sustains on lower level then it will test next support level of 443. On other side 456 will be major resistance level.

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