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Today’s MCX Trading Tips & Profitable Strategies to Get Profit 25 Nov 2019

Market Outlook

MCX Gold recovered from lows of the previous session and sustained above 38000 for most part of the session. Bulls can be active if it sustains above 38200 whereas 37900 is still acting as strong support for the bullion below which it may further drag towards the next support of 37790. MCX Crude showed sideways movement for the session where 4200 acted as strong resistance whereas 4150-4120 is seen as the support range from current levels. MCX Copper traded near the major support levels on daily charts but 430 acted as strong support for the metal. Sell offs can now be seen below the immediate support of 429 whereas 434 may act as strong resistance for it.

Fundamental News

Gold firmed on Friday as doubts persisted over the prospects of an interim trade deal being struck between United States and China this year, while supply-squeezed palladium was en route to its best week in 10. Oil prices held near two-month highs on Friday and were set for a third consecutive week of gains, boosted by expectations of an extension to OPEC+ production cuts although doubts over U.S. and China trade talks capped gains.

GOLD

Gold showed bearish movement major support around level of 37871. Now if price sustains on lower level then it will test next support level of 37700. 38200 will be major resistance level.

SILVER

Silver showed bearish movement and found support around level of 44440. Now if price sustains on lower level then it will test next support level of 44000. On other side 45000 will be major resistance level.

CRUDE

Crude oil showed bearish movement and break the major support level of 4130. Now if price sustains on higher level then it will test next resistance level of 4230. On other side 4050 will be major support level.

COPPER

Copper showed bearish movement and found major support around level of 429.55. Now if price sustain on lower level then support level will be 425. And 445 will be major resistance level.

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