Profitable Data Of Mcx Market For Quick Start

Market Outlook

MCX Gold price showed strong bullish movement on Tuesday as well as it also broke its strong psychological resistance level of 38500 and if price maintains above this level then it may give more upside movement up to next resistance level of 38800. MCX Crude oil was range bounded and if price sustains below 3850 levels in upcoming session then again bearish trend will continue towards next support level of 3750 and higher side it has important resistance level at 4000. MCX Copper showed sideways movement. For upcoming trading session, we will keep bearish overview, if price trades below 440 levels and after that 435 will be next support level.

Fundamental News

Gold prices scaled their highest in more than six years on Tuesday, as concerns around protests in Hong Kong and an Argentine currency crash amid fears of global economic slowdown, prompted investors to move away from riskier assets. Oil prices fell on Tuesday on lingering concerns over global demand and rising U.S. production, though expectations for major producers to further curtail output offered support.

GOLD

Gold showed sideways to bearish movement and found the major support level of 37300. Now if price sustains on lower level then it will test next support level of 37000. On other side 38700 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 42000. Now if price sustains on lower level then it will test next support level of 41600. On other side 44600 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4100. Now if price sustains on higher level then it will test next resistance level of 4180. On other side 3860 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 453. Now if price sustains on higher level then it will test next resistance level of 458. On other side 443 will be major support level.

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