Free MCX Trading Tips for Bullion Metals

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Market Outlook

Bullion traders attributed the recovery in gold prices to a firm trend overseas as the weakness in dollar boosted demand for the precious metals as a safe-haven. In coming session it may trade to more bullish. US oil ticked lower on Monday, falling for the first time in three sessions as prospects of rising US production weighed on the market. Next session it may trade sideways to bearish. All base metals trade in positive zone on Monday and it may to continue bullish in coming session.

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Bullion traders attributed the recovery in gold prices to a firm trend overseas as the weakness in dollar boosted demand for the precious metals as a safe-haven. In coming session it may trade to more bullish. US oil ticked lower on Monday, falling for the first time in three sessions as prospects of rising US production weighed on the market. Next session it may trade sideways to bearish. All base metals trade in positive zone on Monday and it may to continue bullish in coming session.

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Gold showed sideway to bullish movement and found the important resistance level of 28835. Now if it will sustain below the important support level of 28700 then 28500 will act as next support level. On the other hand 28900 will act as a major resistance level.

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Silver showed bullish movement and found the important resistance level of 41850. Now if it will sustain below 41500 then 41000 will act as next support level. On the other hand 42000 will act as a major resistance level.

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Crude showed bullish movement and found the important resistance level of 3640. Now if it will close above the important resistance level of 3650 then 3725 will act as next resistance level. On the other hand 3575 will act as a major support level.

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Crude showed bullish movement and found the important resistance level of 3640. Now if it will close above the important resistance level of 3650 then 3725 will act as next resistance level. On the other hand 3575 will act as a major support level.

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