Best Filtered Commodity Trading Tips

Market Outlook

MCX Gold price could not manage to hold for long time above 31250 level, to trade below it again, as the price is affected by stochastic negativity, which urges caution from the upcoming trading. Oil price shows sideways trading now, settling above 4620 barrier, and as long as the price is above 4680, our bullish overview will remain valid for today, MCX Copper price moves slowly recently, below the current support and getting negative close might hint the end of the bullish attempts and start forming strong negative attempts.

Fundamental News

Precious metal prices gained on Monday as the dollar slid against the other major currencies in Asia, but remained at its 4-month highs of above the 92 level. Oil prices started the week in an upbeat mood on Monday, reaching their strongest level in almost four years as traders increased their bets the U.S. would pull out the Iran nuclear deal, raising the potential for tighter global oil stockpiles.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 31310. Now if price sustains on higher level then it will test next resistance level of 31372. On other side 31150 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 40050. Now if price sustains on higher level then it will test next resistance level of 40345. On other side 39810 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4678. Now if price sustains on higher level then it will test next resistance level of 4700. On other side 4680 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 463. Now if price sustains on higher level then it will test next resistance level of 465.50. On other side 457.15 will be major support level.

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

Leave a Reply

Your email address will not be published. Required fields are marked *