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Profitable Updates for Copper and Free MCX Tips

Market Outlook
Gold prices edged lower on Tuesday, pulling back from its strongest level in a month as the dollar and global equities recovered from recent losses. Oil prices rose on Tuesday, supported by a weaker dollar, but crude continued to be weighed down by surging U.S. production and uncertainty over whether an OPEC-led supply cut is big enough to rebalance the market. The base metals have been on a back footing for some time now with upside initiatives being capped by overhead supply from stale long liquidation, profit-taking and forward selling.

Fundamental News
The yellow metal settled higher for the second session in a row on Monday after hitting its strongest since February 27 at $1,261.00 after U.S. President Donald Trump’s failure to push through a healthcare reform bill.
U.S. crude oil output has already risen 8.3 percent since mid-2016 to 9.13 million barrels per day (bpd). Output briefly reached 9.7 million bpd in April 2015, the highest since May 1971.

Gold showed sideways to bullish movement and found the important resistance level of 28950. Now if it will sustain below the important support level of 28700 then 28500 will act as next support level. On the other hand 29000 will act as a major resistance level.

Silver showed bullish movement and found the important resistance level of 42400. Now if it will sustain below 42100 then 41700 will act as next support level. On the other hand 42500 will act as a major resistance level.

Crude showed bullish movement and found the important resistance level of 3180. Now if it will close below the important support level of 3100 then 3050 will act as next support level. On the other hand 3200 will act as a major resistance level.Copper showed bullish movement and found the important resistance level of 384. Now if it will close below the important support level of 381 then 375 will act as next support level. On the other hand 390 will act as a major resistance level.

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