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Result Oriented Trading Tips of Mcx Market

  

Market Outlook

MCX Gold price took quick recovery from lower to higher side after yesterday’s downfall and retest its psychological resistance level of 38000 and for upcoming session we will keep bullish overview up to next resistance level of 38400 and lower side it has immediate support at 37700. MCX Crude oil showed strong bullish movement as well as also broke 4050 levels and if price trades above 4150 levels in upcoming session then after that this momentum can find next resistance level at 4200. MCX Copper fell from higher levels and if price settles below 440 levels in upcoming trading session then short term selling pressure will again active towards next support level at 435.

Fundamental News

Gold prices were steady on Tuesday, after skidding below a key level in the previous session following an uptick in risk appetite, with investors awaiting meetings by policymakers later this week for clues on the path forward for interest rate cuts.  Oil prices rose on Tuesday on optimism U.S.-China trade tensions will ease and on hopes major economies will take stimulus measures to ward off a potential economic slowdown that could hit oil demand.

    

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 38100. Now if price sustains on higher level then it will test next resistance level of 38250. On other side 37650 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 43900. Now if price sustains on higher level then it will test next resistance level of 44250. On other side 43100 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3950. Now if price sustains on lower level then it will test next support level of 3860. On other side 4090 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 444. Now if price sustains on lower level then it will test next support level of 440. On other side 451 will be major resistance level.

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