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Market Outlook

MCX Gold price was quite volatile due to dollar but still it has bullish, if price manages above 32300 in upcoming session then we will keep bullish overview up to next resistance of 32500 MCX Crude oil took some correction from higher levels and if price trades below 4400 levels in next session then this movement can find next correctional level of 4350 and below this level again bearish trend will active. MCX Copper tests its major resistance of 455 but unable to maintains above this level. If price maintains above 455 in upcoming session then we will continue to suggest bullish trend up to next resistance of 460 and lower side it has immediate support at 445.

Fundamental News

Gold edged up Tuesday to hold near its highest in more than a week, supported by a retreating dollar and by increased buying by central banks.

Crude Oil hit a five-month high above $71 a barrel on Tuesday, supported by concern that violence in Libya could further tighten supply already squeezed by OPEC cuts and U.S. sanctions on Iran and Venezuela.

Gold showed sideways to bearish movement and found the major support level of 32100. Now if price sustains on lower level then it will test next support level of 32000. On other side 32300 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 37800. Now if price sustains on lower level then it will test next support level of 37500. On other side 38150 will be major resistance level.

Crude oil showed sideways to bearish movement and found the major support level of 4420. Now if price sustains on lower level then it will test next support level of 4350. On other side 4506 will be major resistance level.

Copper showed sideways to bearish movement and found the major support level of 449. Now if price sustains on lower level then it will test next support level of 445. On other side 456 will be major resistance level.

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