MCX Market Update and Free MCX Tips

Market Outlook

Gold price confirmed breaching 1281.17 level after closing the daily candlestick above it, reinforcing the expectations of achieving more gains in the upcoming period, as our next target is located at 1299.20. Crude oil price confirmed breaching 59.00 level after closing yesterday’s trades above it, to confirm the continuation of the bullish wave, we believe that the chances are valid to continue rising in the upcoming period. Copper price provided clear positive stability yesterday by consolidating around 3.2000, the positive target at 3.2500 will open the way to form strong bullish attack and increase the chances of reaching the main resistance at 3.5000.Zinc and Lead also continue rising in the upcoming session.Aluminium price clearly in bullish trend after breaching 138.50.

Fundamental News

Gold prices edged up on Tuesday to a more than three-week high on support from a weaker dollar and chart signals, as palladium touched the highest level since February 2001 on supply worries. Speculators raise net longs in gold in the week to Dec. 19

 

Oil prices on Wednesday remained near two-and-a-half-year highs from the previous session as the market outlook for 2018 is relatively tight, although the gradual resumption of flows through a major North Sea pipeline prevented crude from rising.

Gold showed sideways to bullish movement and found the major resistance level of 28980. Now if price sustains on a higher level then it will test next resistance level of 29160. On another side, 28720 will be a major support level.

Silver showed sideways to bullish movement and found the major resistance level of 38800. Now if price sustains on a higher level then it will test next resistance level of 39100. On another side, 38200 will be a major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 3850. Now if price sustains on a higher level then it will test next resistance level of 3890. On another side, 3800 will be a major support level.

Copper showed sideways to bullish movement and found the major resistance level of 469. Now if price sustains on a higher level then it will test next resistance level of 472. On another side, 460 will be a major support level.

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published. Required fields are marked *