Remarkable MCX Strategies for Higher Profit

Market Outlook

MCX Gold price edged higher on Thursday and it also test resistance of 31800 and if price trades above 31900 in upcoming session then it can test next intraday resistance of 32100 as well as bullish trend will remain active. MCX Crude oil was range bounded price moves in between 4250-4350 range, if price manages of 4350 in next period then may be it can shows some bullish movement up to next resistance of 4400. MCX Copper showed some upward side movement and test 450 levels and if price maintains above 455 levels in upcoming trading session then this momentum can find next resistance of 460 as well as up trend will resumes.

Fundamental News

Gold prices rose on Thursday as the U.S. dollar traded close to a one-week low hit in the previous session, while investors awaited progress on the Sino-U.S. trade negotiations.

Crude Oil prices dipped on Thursday, with Brent edging away from the psychologically important $70 level after easing in the previous session on data showing a surprise build in U.S. inventories.

Gold showed sideways to bullish movement and found the major resistance level of 31800. Now if price sustains on higher level then it will test next resistance level of 31950. On other side 31570 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 37550. Now if price sustains on higher level then it will test next resistance level of 37850. On other side 37000 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4350. Now if price sustains on higher level then it will test next resistance level of 4430. On other side 4280 will be major support level.

Copper showed sideways to bearish movement and found the major support level of 444. Now if price sustains on lower level then it will test next support level of 440. On other side 451 will be major resistance level.

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