Essential Trading Tips For MCX Market

Market Outlook

MCX Gold price provides calm positive trading to approach retesting 31100 level now, which supports the chances of bouncing bearishly to resume the expected bearish trend for the upcoming period, oil price’s bullish rally stopped at the previously broken support of the intraday basis, these factors encourage us to suggest the negative trading in the upcoming sessions, on Copper price The negative effect continues. Below 458 level will confirm exiting the bullish track to start providing strong negative trades.

Fundamental News

Precious metal prices gained on Tuesday as intensifying U.S.-China trade tensions fuelled investor appetite for safe-haven gold. A softer dollar was also cited as supportive. Oil demand is set to stay strong in the second half of 2018, an OPEC technical panel forecast this week, suggesting the market could absorb extra production from the group.

GOLD

Gold showed sideways to bearish movement and found the major support level of 30891. Now if price sustains on lower level then it will test next support level of 30825. On other side 31098 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 39675. Now if price sustains on lower level then it will test next support level of 39461. On other side 40147 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4403. Now if price sustains on lower level then it will test next support level of 4341. On other side 4474 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 458.30. Now if price sustains on lower level then it will test next support level of 454.60. On other side 467.65 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Your email address will not be published.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 *