Daily Featured Trading Tips of Mcx Market

Market Outlook

MCX Gold price continues to crawl negatively to move around 29800 level, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, which targets 29550 level as a next main station, oil price managed to break 4705 level and closed the daily candlestick below it, which reinforce the expectations of continuing the bearish trend on the intraday and short term basis. MCX Copper price repeated the sideways trading affected by the stability of 420 support line, which blocks resuming the main negative attack.

Fundamental News

On Tuesday gold prices were trading slightly lower as the dollar edged up after a sharp decline in the previous session. On Tuesday crude oil prices fell despite a late-night response from U.S. President Donald Trump that threatened severe consequences for Iran.

 

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 29984. Now if price sustains on higher level then it will test next resistance level of 30054. On other side 29733 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 38691. Now if price sustains on higher level then it will test next resistance level of 39080. On other side 38150 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4790. Now if price sustains on higher level then it will test next resistance level of 4830. On other side 4666 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 433.40. Now if price sustains on higher level then it will test next resistance level of 438.70. On other side 421.25 will be major support level.

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