MCX Market Trading Tips With High Accuracy

Market Outlook

MCX Gold follow is major bearish trend from higher levels on monday after recovery of bearish trendu on last treding session and test major support level of 31471 and if price sustains below 31450 level in upcoming session then we will keep bearish overview towards next strong support i.e. 31300 levels. MCX Crude oil was on correction mode after opening on lower note, if its trades below 4200 in next trading session then bearish bias will remain active as well as it can test next support of 4120. MCX Copper was also showed correction on higher side after sharp fall. For upcoming period, if price sustain below 432 then this bearish momentum can test next support of 425 and higher side it has immediate resistance at 438.

Fundamental News

As the dollar gained after U.S. President Donald Trump threatened to raise tariffs on Chinese goods, escalating Sino-U.S. trade tensions and prompting investors to sell riskier assets, results Gold was little changed on Monday.

U.S. crude pared losses from tumbling to almost $60 a barrel after President Donald Trump threw trade talks between the world’s two largest economies into disarray with a threat to raise tariffs on Chinese imports.

Gold showed sideways to bullish movement and found the major resistance level of 31650. Now if price sustains on higher level then it will test next resistance level of 31800. On other side 31450 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 37450. Now if price sustains on higher level then it will test next resistance level of 37750. On other side 37050 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4340. Now if price sustains on higher level then it will test next resistance level of 4400. On other side 4190 will be major support level.

Copper showed sideways to bullish movement and found the major resistance level of 439. Now if price sustains on higher level then it will test next resistance level of 443. On other side 429 will be major support level.

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