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Profitable MCX Trading Tips For Investors

Market Outlook

MCX Gold took some correction from higher to lower side after bullish movement and if price sustains below 32200 then again selling pressure will active as well as price falls towards next support level of 32000. MCX Crude oil was range bounded and if price manages above 4400 then this bullish momentum can take price up to next intraday resistance of 4450 and bullish bias will remain active. MCX Copper showed some downside movement but unable to cross its major support of 425. For upcoming session if price breaks this level then it will continue with downward trend towards next immediate support of 420.

Fundamental News

Gold retreated slightly from a one-month high on Tuesday as equity markets enjoyed some respite after the United States and China adopted a more optimistic tone on their trade dispute.

Oil prices rose on Tuesday after the world’s top oil exporter Saudi Arabia said explosive-laden drones had attacked two pumping stations belonging to state oil company Aramco.

GOLD

Gold showed sideways to bearish movement and found the major support level of 32200. Now if price sustains on higher level then it will test next resistance level of 32500. On other side 32200 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 37762. Now if price sustains on higher level then it will test next resistance level of 38300. On other side 37400 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4276. Now if price sustains on lower level then it will test next support level of 4250. On other side 4400 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 424.75. Now if price sustains on higher level then it will test next resistance level of 428. On other side 424 will be major support level.

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