Mcx Trading Tips With Precise Details

Market Outlook

MCX Gold bullish throughout the day and found psychological resistance level of 32000, if price maintains above 32050 level in upcoming session then we will keep bullish overview towards next strong resistance i.e. 32300 levels. MCX Crude oil was on bearish trend on last trading session from higher levels but not sustains on lower level and jump towards resistance level of 4350, if its trades below 4250 in next trading session then bearish bias will remain active. MCX Copper was also showed sharp downfall from higher levels. For upcoming period, if price sustain below 428 then this bearish momentum can test next support of 422 and higher side it has immediate resistance at 436.

Fundamental News

Gold prices rose on Friday and were set to post a weekly rise as the United States raised tariffs on Chinese goods and increased fears of a global economic slowdown, with a weaker dollar also offering support to the precious metal.

Prices were set to fall over the week, but gained in the session as investors believed a U.S.-China trade deal could still be reached and supply cuts worldwide continued to buoy prices.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 32003. Now if price sustains on higher level then it will test next resistance level of 32200. On other side 31700 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 37488. Now if price sustains on higher level then it will test next resistance level of 37700. On other side 37000 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4300. Now if price sustains on lower level then it will test next support level of 4200. On other side 4380 will be major resistance level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 433.70. Now if price sustains on higher level then it will test next resistance level of 438. On other side 426 will be major support level.

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