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Optimize Your Profit by Mcx Trading Tips

Market Outlook

MCX Gold price provides slight positive trades after testing the EMA50 yesterday, to reach the key resistance 33500 now. Oil price attacked the key support 3860 yesterday but it bounced upwards quickly to settle above 3920, which keeps the main bullish trend scenario active until now. MCX Copper price succeeded to gather strong positive momentum yesterday to notice its direct rally towards the first target at 448, while the continuous fluctuation within the bullish channel reinforces the bullish expectations, expected trading range for today is between 442 and 448.

Fundamental News

The positive feelings over U.S. jobs and manufacturing numbers are making their way to the dollar — and costing gold in the process. With Organization of the Petroleum Exporting Countries surveys and weekly U.S. data and rig counts out of the way, it’s back to the daily grind for oil and how the trade talks between the U.S. and China are progressing.

GOLD

Gold showed sideways to bearish movement and found the major support level of 33341. Now if price sustains on lower level then it will test next support level of 33200. On other side 33495 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 40360. Now if price sustains on lower level then it will test next support level of 40000. On other side 40716 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3845. Now if price sustains on lower level then it will test next support level of 3750. On other side 3970 will be major resistance level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 447.50. Now if price sustains on higher level then it will test next resistance level of 450. On other side 444.20 will be major support level.

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