Learn Online Trading with Accuracy | Mcx Tips

   

Market Outlook

MCX Gold price jumped on Monday and it also breached its major resistance level of 33700 and if price closes above this level then it will continue with bullish scenario and test next strong resistance level of 33900 in next session. MCX crude oil was quite volatile and price moves in a range. For upcoming trading session if it crosses 4050 then we have to continue with bullish bias up to next resistance of 4120.MCX Copper showed sideways movement and unable to maintains on higher levels. It has immediate resistance of 452 and lower side it has major support of 440 on intraday basis. For next session we will continue to suggest downward trend.

Fundamental News

Gold hovered near 10-month highs on Tuesday as optimism around U.S.-China trade discussions dimmed the dollar’s appeal, while palladium struck a record high on supply concerns. Prices of Crude oil hovered just below 2019 highs on Tuesday as traders waited for the outcome of U.S.-China trade talks this week, while supply cuts led by producer group OPEC meant markets were relatively tight.

 

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 33870. Now if price sustains on higher level then it will test next resistance level of 34000. On other side 33580 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 40550. Now if price sustains on higher level then it will test next resistance level of 40850. On other side 40151 will be major support level

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3951. Now if price sustains on lower level then it will test next support level of 3840. On other side 4019 will be major resistance level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 452.65. Now if price sustains on higher level then it will test next resistance level of 457. On other side 445.90 will be major support level.

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