Rapid Growth With Accurate MCX Trading Tips

Market Outlook

MCX Gold fell from higher levels on Wednesday and it also test major support level of 31655 and if price sustains below this level in upcoming session then we will keep bearish overview towards next strong support i.e. 31500 levels. MCX Crude oil was quite bullish but unable to holds on higher levels and if price trades below 4350 in next trading session then bearish bias will remain active as well as it can test next support of 4250. MCX Copper was quite bearish after its contract expiry. For upcoming period, if price breaks 435 then this bearish momentum can test next support of 425 and higher side it has immediate resistance at 445.

Fundamental News

As equities gain before U.S. Fed decision result PRECIOUS-Gold prices ease, with investors awaiting the Federal Reserve’s interest rate decision.

Oil prices inched down on Wednesday after an unexpected rise in U.S. crude inventories, but the fall was limited by an intensifying crisis in Venezuela along with tightened U.S. sanctions on Iran.

Gold showed sideways to bearish movement and found the major support level of 31650. Now if price sustains on lower level then it will test next support level of 31500. On other side 31800 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 37000. Now if price sustains on lower level then it will test next support level of 36700. On other side 37600 will be major resistance level.

Crude oil showed sideways to bearish movement and found the major support level of 4380. Now if price sustains on lower level then it will test next support level of 4300. On other side 4460 will be major resistance level.

Copper showed sideways to bearish movement and found the major support level of 434. Now if price sustains on lower level then it will test next support level of 430. On other side 450 will be major resistance level.

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