Pick Profitable Trading Tips of Mcx Market

Market Outlook

MCX Gold price resumes its positive trading today to reach the thresholds of the waited target at 31100, getting continuous positive support by the EMA50, which encourages us to suggest breaching the mentioned level and extend the bullish wave to target 31500 level as a next main station. Oil price tested 3720 level and kept its stability above it, to keep the bullish trend scenario active in the upcoming sessions, MCX Copper price provided slow trading, but its stability above the bullish channel’s support at 438 supports the continuation of the suggested positivity.

Fundamental News

On Tuesday in Asia Gold prices gained as the dollar declined on easing U.S.-China trade worries. Crude Oil prices gained on Tuesday morning in Asia amid expectations that OPEC will cut output after Russia and Saudi Arabia agreed on the need for further measures to stabilize markets.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 31126. Now if price sustains on higher level then it will test next resistance level of 31250. On other side 30913 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 37685. Now if price sustains on higher level then it will test next resistance level of 37950. On other side 37146 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3867. Now if price sustains on higher level then it will test next resistance level of 3930. On other side 3727 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 433. Now if price sustains on lower level then it will test next support level of 428. On other side 443.90 will be major resistance level.

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