Best MCX Trading Tips With Accuracy

Market Outlook

MCX Gold price after breaching their upper level 31250 settles below 31100 level, to keep the bearish bias suggested in the upcoming period, Oil price tested 4580 level and keeps its stability below it, which means that breaking 4420 will provide strong negative motive that lower supports the chances of continuing the overall bearish trend. MCX Copper price did not move recently, to keep its positive consolidation above the bullish channel’s support line at 460, we will keep waiting to gather new positive momentum in the near period to manage to renew the bullish attempts.

Fundamental News

The dollar traded slightly lower against a basket of major currencies despite, precious metal prices slid on Tuesday. Oil to ease a potential shortfall in supply because Saudi Arabia and Russia would pump more, crude oil prices continued to struggle near their lowest levels in around six weeks on Tuesday.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 31325. Now if price sustains on higher level then it will test next resistance level of 31428. On other side 31025 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 40220. Now if price sustains on higher level then it will test next resistance level of 40783. On other side 39811 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4577. Now if price sustains on higher level then it will test next resistance level of 4678. On other side 4485 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 467.70. Now if price sustains on higher level then it will test next resistance level of 469.75. On other side 460.30 will be major support level.

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