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Today’s Mcx Trading Tips For Best Return

      

Market Outlook

MCX Gold opened on lower note and continued the weak trend as it sustained below the key mark of 38000. If the bears continue then it may further fall towards the near support of 37700 below which it may further slip towards the next major support of 37500 whereas 38100 is now seen as crucial resistance. MCX Crude was able to hold at higher levels after pursuing the up move in later half on Friday. Now, 4200 is seen as major resistance ahead and any closing below 4100 can result in certain correction from resistance levels. MCX Copper traded sideways where the metal is not able to give decisive positive breakout above 440 continuing the weak trend for it where 437 acted as strong support

Fundamental News

Gold prices edged down on Monday as optimism grew about US-China trade ties following a report of “constructive talks” over the weekend, while losses were capped by a softer dollar.

Oil prices inched higher on Monday, extending steady gains from the previous week, with investors awaiting fresh clues over prospects for a trade deal between the United States and China and shrugging off concerns over steadily rising oil supplies.

Gold showed bullish movement from major resistance around level of 38250. Now if price sustains on lower level then it will test next support level of 37900. 38600 will be major resistance level.

Silver showed bullish movement and found reistance around level of 44711. Now if price sustains on lower level then it will test next support level of 44000. On other side 45500 will be major resistance level.

Crude oil showed bearish movement and found major support around level of 4068. Now if price sustains on higher level then it will test next resistance level of 4170. On other side 4000 will be major support level.

Copper showed bearish movement and found major support around level of 436.30. Now if price maintains on higher level then it will test resistance level of 442. On other side 434 will be major support level.

 

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