MCX Gold showed strong bullish movement today and test its major resistance level and for upcoming session it may continuw with its up trend. MCX Crude oil took good recovery after sharp doenfall and we expect more upside movement up to next resistance level of 4250. MCX Copper opens with positive bias and took some recovery from lower level and all other base metals took correction from higher to lower level and we expect it may continue with daily trend i.e. bullish trend.
Prices of gold held steady on Tuesday as the dollar remained little changed against a currency basket as fears over a possible trade war between the U.S. and China eased after Chinese President Xi Jinping promised to lower import tariffs.
Crude oil prices rallied for the second day in a row on Tuesday, as appetite for riskier assets improved after a speech by Chinese President Xi Jinping eased concerns about a trade conflict between the United States and China.
Gold price opens lower but follow bullish trend for the day. Sustaining above psychological level of 30800. Major resistance levels are 30975 and 31120. On the other side support level is 30675.
Silver price opens lower but follow bullish trend for the day. Sustaining above psychological level of 38500. Major resistance levels are 38834 and 39054. On the other side support level is 38191.
Crude oil showed bullish movement and sustaining above major level of 4200 and if it continues bullish run it can test next resistance level of 4260 and further it can break resistance level of 4305. On other side 4033 can be major support level.
Copper showed bullish movement and sustaining above major level of 446 and if it continues bullish run it can test next resistance level of 451.50 and further it can break resistance level of 453.50. On other side 443 can be major support level.
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