facebook

Today’s Beneficial Prediction of Mcx Market

 

 

Market Outlook

MCX Gold price begins today’s trading with bearish bias to approach 29850 level, it keeps moving inside the minor bearish channel that appears on the chart, to keep the bearish trend active in the upcoming period, oil price retests the previously broken support line that turns into key resistance now at 4765, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, Copper price hinted keeping the bearish bias domination to notice gathering new negative momentum recently and approaches 417 level that formed an obstacle against the negative attack.

Fundamental News

On Monday Gold prices traded lower, with spot prices hitting a 17-month low, as concerns over the crisis in Turkey sent investors flocking to the dollar, dampening demand for the precious metal. On Monday Crude Oil prices fell as concerns over slowing economic growth amid global trade tensions and slowing economic growth were cited as catalyst for the selling.

GOLD

Gold showed sideways to bearish movement and found the major support level of 29700. Now if price sustains on lower level then it will test next support level of 29602. On other side 29893 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 37675. Now if price sustains on lower level then it will test next support level of 37480. On other side 38159 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4612. Now if price sustains on lower level then it will test next support level of 4564. On other side 4737 will be major resistance level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 426. Now if price sustains on higher level then it will test next resistance level of 428. On other side 418.45 will be major support level.

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

Leave a Reply