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Market Outlook

MCX Gold price took recovery from lower to higher side on Thursday. For upcoming session if price trades above 33900 in upcoming session then it can retest resistance level of 34000 and above this level again bullish scenario will active. MCX Crude oil was quite volatile and if price sustains below 4000 in upcoming trading session then this momentum can find next immediate support level at 3950 and higher side it has strong resistance at 4200. MCX Copper showed bearish movement and we will keep bearish overview for next session and price can test next major support level of 435 and below this level 430 will act as a next immediate support level.

Fundamental News

Gold prices rose on Tuesday, after its biggest one-day percentage fall in 2-1/2 years the previous session, as risk appetite soured on worries over global growth and uncertainties around a Sino-U.S. trade deal.

Oil prices slipped on Tuesday as concerns that the global economy could be slowing outweighed an agreement by producer club OPEC on Monday to extend supply cuts until next March.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 34100. Now if price sustains on higher level then it will test next resistance level of 34250. On other side 33900 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 37900. Now if price sustains on higher level then it will test next resistance level of 38200. On other side 37400 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3900. Now if price sustains on lower level then it will test next support level of 3820. On other side 4120 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 438. Now if price sustains on lower level then it will test next support level of 433. On other side 446 will be major resistance level.

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