facebook

Profitable Mcx Trading Tips & Updates

Market Outlook

MCX Gold price showed bearish movement on Wednesday but unable to sustains on lower side and took quick recovery. For upcoming session if price maintains above 34600 then this momentum can find next important resistance level of 34800 as well as bullish bias will remain active. MCX Crude oil price showed bullish movement and also broke its major resistance level of 4050 and if price manages above 4100 then after that 4150 will be next resistance level. MCX Copper took recovery from lower to higher side after sharp downfall and it may give more positive movement in upcoming trading session, if price maintains above 440 levels.

Fundamental News

Gold eased on Wednesday as expectations of a sharp U.S. interest rate cut receded while investors awaited Federal Reserve Chairman Jerome Powell’s congressional testimony for concrete signals on the central bank’s monetary policy strategy.

Oil prices rose around 2% on Wednesday after industry data showed U.S. inventories fell more than expected, while major U.S. producers evacuated rigs in the Gulf of Mexico ahead of a storm.

Gold showed sideways to bullish movement and found the major resistance level of 34870. Now if price sustains on higher level then it will test next resistance level of 35000. On other side 34350 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 38500. Now if price sustains on higher level then it will test next resistance level of 38800. On other side 38000 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4130. Now if price sustains on higher level then it will test next resistance level of 4200. On other side 4000 will be major support level.

Copper showed sideways to bullish movement and found the major resistance level of 443. Now if price sustains on higher level then it will test next resistance level of 448. On other side 433 will be major support level.

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply