Earn Daily with Beneficial MCX Market Tips

Market Outlook

MCX Gold price shows negative trading now to approach the bearish pennant’s support line at 30800, waiting to break this level to activate the negative effect of this pattern. Oil price continues to fluctuate around 4420 level, to keep the price confined between the key levels represented, the price needs to surpass one of these levels to detect its next destination clearly. MCX Copper price continued to rise to reach the previously recorded top at 502, showing some bearish bias by today’s opening.

Fundamental News

Ahead of his historic meeting with North Korean leader Kim Jong Un and the central bank’s policy meeting this week, Precious metal prices were up on Monday as the dollar softened after U.S. President Donald Trump decided to back out of the G7 Summit joint communiqué. Domestic oil output – driven by shale extraction – is currently at an all-time high of 10.8 million barrels per day (bpd), U.S. crude production has been rising to record levels since late last year.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 31260. Now if price sustains on higher level then it will test next resistance level of 31334. On other side 31075 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 40813. Now if price sustains on higher level then it will test next resistance level of 40916. On other side 40406 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4479. Now if price sustains on higher level then it will test next resistance level of 4500. On other side 4375 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 483.80. Now if price sustains on lower level then it will test next support level of 474. On other side 489.95 will be major resistance 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Your email address will not be published.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 *