Gold Market Strategies and Profitable Tips

Market Outlook

MCX Gold took some recovery from lower levels after sharp fall towards lower side on last tuesday and if price trades above 32100 in next trading session then it will give more upside movement and price may test next resistance of 32400 as well as bullish trend will resumes. MCX Crude oil correct and face stip resistance around 4000 levels and if price maintain above this level in next session then we will keep our bullish overview towards next level at 4150 and lower side it has important support of 3900. MCX Copper took recovery from lower levels also broke immediate resistance of 455 and above this level it has another resistance of 460, on downward 450 will act as vital support level.

Fundamental News

Gold prices rose on Tuesday as the dollar weakened against the pound after the European Commission accepted amendments to the UK’s Brexit deal, although gains were limited as the agreement also buoyed sentiment for riskier assets.

Oil rose to around $67 a barrel on Tuesday, supported by Saudi Arabia’s plan for further voluntary supply curbs in April and by a cut in oil exports from Venezuela due to a power outage.

Gold showed sideways to bullish movement and found the major resistance level of 32043. Now if price maintain above 32100 on higher side then it will test next resistance level of 32400. On other side 31850 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 38860. Now if price maintain above 38900 on higher level then 39300 will test next resistance level. On other side 38300 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4014. Now if price sustains on lower level then 3900 will at as majoursupport level. On other side 4030 will be major resistance level above which it may test 4100.

Copper showed bullish movement and found the major resistance level of 457. Now if price sustains on lower level then it will test support level of 450. On other side 458 will be major resistance level.

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