Mcx Trading Tips and Market News Headlines 17th June

Market Outlook

MCX Gold again jumped on Friday and also broke its major resistance level of 33000 and we will continue to suggesting positive movement for upcoming session up to next resistance of 33350. MCX Crude oil showed slight negative movement but suddenly it took reverse movement from lower levels. For upcoming week it may give more recovery from lower to higher side, if price maintains above 3700 and after that 3750 will act as a next immediate resistance level. MCX Copper showed bearish movement and test immediate support of 406 and if price sustains below 405 in upcoming period then again downward trend will active towards next support level of 400.

Fundamental News

Gold hit its highest since April last year on Friday as political tensions in the Middle East and weak economic data from China and the United States pushed it above $1,350.

Oil rose about 1% on Friday after attacks on two oil tankers in the Gulf of Oman this week raised concerns about potential supply disruptions, but prices remained on track for a weekly loss on fears that trade disputes will dent global oil demand.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 33350. Now if price sustains on higher level then it will test next resistance level of 33500. On other side 32950 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 37700. Now if price sustains on higher level then it will test next resistance level of 38000. On other side 37000 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3700. Now if price sustains on higher level then it will test next resistance level of 3780. On other side 3600 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 405. Now if price sustains on lower level then it will test next support level of 400. On other side 410 will be major resistance 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Your email address will not be published.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 *