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Premium Gold Trading Tips | Commodity Updates

Market Outlook

MCX Gold price settles below 32200 level, to keep the negative pressure valid until now, waiting to break 31900 to get good motive that supports the expectations of continuing the intraday bearish trend, oil price fluctuates around the EMA50, noticing that stochastic moves near the oversold areas and begins to provide positive overlapping signal now, we will continue to suggest the bullish trend in the upcoming sessions. MCX Copper price continued to provide negative fluctuations affected by the major indicators’ negativity, to settle around 421, while facing continuous negative pressures will push the price to break 417 and open the way to target the key support 412.

Fundamental News

On Wednesday 1 step forward, 2 steps back: Precious metals kept up with their trend of slight back-to-back gains and losses. The issue is an uncertain outlook for risk given the drag on everything from Brexit to China trade talks. On Thursday in Asia Crude Oil prices slid as lingering concerns over global economic growth continued to affect investors’ risk appetite.

GOLD

Gold showed sideways to bearish movement and found the major support level of 31950. Now if price sustains on lower level then it will test next support level of 31850. On other side 32150 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 38840. Now if price sustains on lower level then it will test next support level of 38500. On other side 39140 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3805. Now if price sustains on higher level then it will test next resistance level of 3900. On other side 3711 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 414.10. Now if price sustains on lower level then it will test next support level of 410. On other side 420.70 will be major resistance level.

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