Best MCX Tips | Commodity Market Trend

Market Outlook

MCX Gold price continues with bullish trend and if price maintains above 37400 in upcoming session then this momentum can find next resistance level of 37600 and lower side it has important support level at 37000. MCX Crude oil was quite volatile and we will continue to suggesting bearish trend, if price trades below 3800 levels in upcoming session and after that 3750 will act as next immediate support level. MCX Copper was also quite volatile on Thursday. For upcoming trading session, if price breaches 430 levels then again bearish bias will active towards next support level of 425.

Fundamental News

Gold prices held firm near six-year highs on Tuesday as investors flocked to safety after the United States designated Beijing a currency manipulator, escalating a protracted trade war between the world’s two biggest economies.

Oil prices rebounded slightly on Tuesday from big falls in recent sessions, but Brent crude remained near seven-month lows around $60 a barrel due to escalating trade tensions between China and the United States.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 37500. Now if price sustains on higher level then it will test next resistance level of 37700. On other side 36900 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 42600. Now if price sustains on higher level then it will test next resistance level of 42900. On other side 42100 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3840. Now if price sustains on lower level then it will test next support level of 3750. On other side 3490 will be major resistance level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 440. Now if price sustains on higher level then it will test next resistance level of 445. On other side 435 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Your email address will not be published.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 *