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Market Outlook

MCX Gold price took sharp correction from higher to lower side after bullish movement and if price sustains below 32400 in upcoming trading session then again bearish scenario will active as well as this movement can find next immediate support of 32100. MCX Crude oil was quite volatile on Tuesday and if price manages above 3800 in next session then we will keep bullish bias up to next important resistance level of 3850. MCX Copper took quick recovery from lower to higher side as well as it can find intraday resistance level at 415 and lower side t has support level at 405.

Fundamental News

Gold held steady on Tuesday after posting its biggest one-day percentage fall in two months in the previous session, as Washington’s fresh trade threats against China dented investor optimism spurred by a U.S.-Mexico deal.

Crude Oil steadied above $62 a barrel on Tuesday as firmer equities and expectations OPEC and its allies will keep withholding supply countered concern about slowing economies and demand.

Gold showed sideways to bearish movement and found the major support level of 32450. Now if price sustains on lower level then it will test next support level of 32300. On other side 32700 will be major resistance level.

Silver showed sideways to bullish movement and found the major resistance level of 36900. Now if price sustains on higher level then it will test next resistance level of 37250. On other side 36400 will be major support level.

Crude oil showed sideways to bearish movement and found the major support level of 3680. Now if price sustains on lower level then it will test next support level of 3600. On other side 3760 will be major resistance level.

Copper showed sideways to bearish movement and found the major support level of 409. Now if price sustains on lower level then it will test next support level of 405. On other side 416 will be major resistance level.

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