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Profitable MCX News and Free MCX Tips

Market Outlook

Gold price keeps its stability above 1281.17 Level, to keep the positive effect. We will keep our bullish overview in the upcoming Sessions. The trading range for today is between 1272.00 Support and 1300.00 Resistance. Crude oil price ended yesterday’s trading above the bullish flag resistance, to get strong positive motive that supports the continuation of the expected bullish trend on the intraday and short-term basis, we are waiting for more rise in the upcoming sessions, trading range for today is between 3695 support and 3765 resistance. Copper price continues to provide strong negative pressures on the initial support level attempting to surpass 447 Level. to expect to provide some bearish correctional trading.

Fundamental News

Gold dipped in Asia on Friday but remained well supported on Middle East tensions between Iran and Saudi Arabia and await a summit in Vietnam among Asia-Pacific nations.

Crude oil prices fell in Asia on Friday ahead of U.S. weekly rig count data that showed a dip in the previous week, but also with a sharp eye on the Middle East as tensions between Iran and Saudi Arabia, key OPEC members, simmer.

Gold showed sideways to bearish movement and found the major support level of 29450. Now if price sustains lower level then it will test next support level of 29325. On another side, 29700 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 39300. Now if price sustains lower level then it will test next support level of 39020. On another side, 40000 will be major resistance level.

Crude oil showed sideways to bearish movement and found the major support level of 3690. Now if price sustains lower level then it will test next support level of 3645. On another side, 3765 will be major resistance level.

Copper showed sideways to bearish movement and found the major support level of 442. Now if price sustains lower level then it will test next support level of 438. On another side, 448 will be major resistance level.

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