Free MCX Trading Tips For Huge Profits

 gold

Market Outlook

Gold closed lower yesterday as the U.S. dollar touched another 8-month high in the wake of data showing that the pace of growth among American manufacturers was better than expected in October. Silver closed higher after participants raised their bets amid firming global trends. Base metals were higher due to increase in demand. Crude closed lower as doubts surrounding the OPEC’s plan to curb production resurfaced in the wake of Iraq’s apparent unwillingness to participate in the deal.

Fundamental News

Gold futures slumped Monday as the U.S. dollar found some support in the wake of data showing that the pace of growth among American manufacturers was better than expected in October.

Oil futures headed lower on Monday on signs that the production cut proposed by the Organization of the Petroleum Exporting Countries could face more headwinds after Iraq signaled it wants to be excluded from the pact.

impGOLD

Gold showed sideways movement and found the important resistance level of 29900. Now if it will close above the important resistance level of 30000 then 30400 will act as next resistance level. On lower side 29600 will act as vital support

goldSILVER

Silver showed bullish movement and found the important resistance level of 42600. Now if it will maintain below its support level of 41800 then 41500 will act as next support level. On the other hand 42600 will act as important resistance level.

silver

 

CRUDE

Crude showed sideways movement and found the important support level of 3330. Now if price breaches the key support level of 3300 then 3250 will act as next support level. On the other hand 3430 will act as important resistance level.

crude

COPPER

Copper showed bearish movement and found the important support level of 310. Now if it will break the support level of 309.50 then 307 will act as next support level. On the other hand 315 will act as a major resistance level.

copper

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