Finding The Best Mcx Signals To Trade

 Market Outlook

MCX Gold showed some downward side movement and also tests its immediate support level of 31300 but the daily trend is still bullish, for next trading session it may trades above 31500 and goes up side up to next resistance level of 31700. MCX Crude oil trades on higher level and more chances of continuening upward trend .MCX Copper was quite volatile but we will continue to suggests its bullish bias above 460 levels up to next major resistance level i.e. 470 levels and lower side it has strong support of 455 and after that it takes some correction from upper levels.

Fundamental News

 Prices of precious metals gained on Wednesday as the U.S. dollar weakened after Treasury yields eased from recent highs in the previous session.

Prices of crude oil slipped on Wednesday after the IMF lowered its global growth forecasts, but markets were supported as Hurricane Michael moved toward Florida causing the shutdown of nearly 40 percent of U.S. Gulf of Mexico crude production.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 31395. Now if price sustains on higher level then it will test next resistance level of 31531. On other side 31267 will be major support level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 38336. Now if price sustains on lower level then it will test next support level of 38055. On other side 38729 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 5414. Now if price sustains on lower level then it will test next support level of 5356. On other side 5576 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 458.70. Now if price sustains on lower level then it will test next support level of 454.90. On other side 464.40 will be major resistance level.

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