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The Advantages of Commodity MCX Trading Tips

Market Outlook

MCX Gold price keeps its stability above 31500 to keep the positive scenario and for upcoming session we will continue to suggesting bullish overview, if price trades above 31800 and after that 32000 will act as a next important resistance level. MCX Crude oil price showed some upward side movement and if price manages above 4150 in upcoming period then again bullish trend will active as well as price can rise up to next resistance level of 4200. MCX Copper price rise from lower levels and also manages above 415 that indicates more bullish rally for next session up to next strong resistance of 425.

Fundamental News

Gold hit a more than one-week peak on Monday as trade tensions between the United States and China lifted appetite for assets seen as a haven from risk, while weak U.S. economic data boosted hopes for a rate cut from the Federal Reserve.

Oil steadied on Monday, trading below $69 a barrel, as concern over the U.S.-China trade dispute and global economic outlook offset support from Middle East tensions and supply cuts.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 31700. Now if price sustains on higher level then it will test next resistance level of 31850. On other side 31500 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 36650. Now if price sustains on higher level then it will test next resistance level of 36950. On other side 36400 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4140. Now if price sustains on higher level then it will test next resistance level of 4220. On other side 4050 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 419. Now if price sustains on higher level then it will test next resistance level of 423. On other side 415 will be major support level.

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