Profitable Analysis Of MCX Trading

Market Outlook
MCX Gold price shows slight bearish bias, because of the price above 31000, so our bullish trend expectations will remain active, waiting for testing 31650 as an initial station, Oil price returns to push the critical support at 66.30 now, which requires being aware from the upcoming trading, where confirming breaking it will stop the expected rise and pushes the price to target 4285 level initially. Mcx Copper price did not move until this momentum despite its stability within the bullish channel the stability of the main support at 439 increases the chances of gathering the positive momentum.

Fundamental News
Gold Mcx prices ended higher Monday, boosted by weakness in the dollar. Precious metal prices drifted lower on Tuesday, as investors wagered U.S.-led attacks on Syria would not escalate into a wider conflict in the Middle East, dampening demand for the safe-haven asset.

Crude Oil prices edged higher on Tuesday, as investors looked ahead to fresh data on U.S. commercial crude inventories to gauge the strength of demand in the world’s largest oil consumer and how fast output levels will continue to rise.

Gold prices open high today and made low of 31190 but recover on later half of the day. Now if price sustains on higher levels then it can test resistance level of 31562 and 31648. On other side 31155 will be major support level.

Silver price opens higher shows some consolidation but overall remain bullish on charts. Now if it sustains on higher level than it can test resistance levels are 39459 and 39670. On the other side 38675 is support level.

Crude oil price opens lower shows some consolidation but overall remain bearish on charts. Now if it sustains on lower level than it can test support levels are 4300 and 4264. On the other side 4385 is resistance level.

Copper price opens higher shows some consolidation but overall remain bullish on charts. Now if it sustains on higher level than it can test resistance levels are 450.70 and 453.70. On the other side 442 is support level


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