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Today MCX Market Headlines | MCX Tips

Market Outlook:

MCX Gold price broke its major resistance level of 31500 and able to close above this level and it will continue with its Bull Run and test next important resistance level of 31650. MCX crude oil price returns to rise after the decline that it witnessed yesterday. We will continue to suggest the bullish trend for next trading session.MCX Copper gives good bullish movement after volatility and if it maintains above 466 then we expect it can test 470 levels in next trading session. Lead and Zinc are also traded on higher level but aluminium traded on lower level.

Fundamental News

Prices of Gold was set for its first weekly gain in four weeks on Friday after soft U.S. inflation data suggested that the Federal Reserve could show caution on the pace of interest rate rises. The weaker than expected April consumer price data on Thursday helped to knock the dollar from 2018 highs.

Crude Oil prices moved lower on Friday in European morning trade as investors took profit after strong weekly gains as they turned their attention to data on U.S. shale production

 

Gold showed sideways to bullish movement and found the major resistance level of 31570. Now if price sustains on higher level then it will test next resistance level of 31620. On other side 31363 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 40710. Now if price sustains on higher level then it will test next resistance level of 40769. On other side 40347 will be major support level.

Crude Oil showed sideways to bullish movement and found the major resistance level of 4824. Now if price sustains on higher level then it will test next resistance level of 4865. On other side 4766 will be major support level.

Copper showed sideways to bullish movement and found the  major resistance level of 466.70. Now if price sustains on higher level then it will test next resistance level of 468.15. On other side 462.35 will be major support level.

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