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MCX Strategies To Earn Higher Profit

Market Outlook

MCX Gold price took sharp correction from higher levels and if price sustains below 31600 then again bearish overview will active as well as this momentum can find next intraday support of 31400. MCX Crude oil slips from higher levels and test its immediate support of 4400, if price beaks 4350 levels in upcoming session then it can find next major support of 4300 as well as downward trend will remain active. MCX Copper also showed downward side movement as it took reverse movement from higher levels. For upcoming period we will keep bearish view up to next support of 435 and below this level 430 will act as a next support level.

Fundamental News

Gold eased on Thursday as investors booked some profit from the metal’s strong run this week, but bullion held near a two-week peak supported by concerns over an economic slowdown, as major central banks retained a dovish policy stance.

Rising U.S. crude stocks dragged oil lower on Thursday but prices continued to find a floor as OPEC-led cuts and freefalling Venezuelan output tightened global supplies.

Gold showed sideways to bearish movement and found the major support level of 31720. Now if price sustains on lower level then it will test next support level of 31600. On other side 32250 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 36800. Now if price sustains on lower level then it will test next support level of 36500. On other side 37750 will be major resistance level.

Crude oil showed sideways to bearish movement and found the major support level of 4370. Now if price sustains on lower level then it will test next support level of 4300. On other side 4470 will be major resistance level.

Copper showed sideways to bearish movement and found the major support level of 440. Now if price sustains on lower level then it will test next support level of 436. On other side 447 will be major resistance level.

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