Todays MCX News Updates

Market Outlook
Gold MCX price in positive trades price in morning session made high around 30819 level, price opens today’s trading with strong rise to succeed breaching 30650 level, Crude oil MCX price continued in its bullish trend opened today’s trading with clear rise after leaning well on the key support base 4190, our bullish overview will remain active for the upcoming period unless breaking 4190 level and holding below it, Copper price in negative trades in the morning session and its unable to sustain below support level 432.some bullish correction are expected up to level 439. Trading range for today is between resistance 439 and support 432.

Fundamental News

Invoking Section 301 of the 1974 Trade Act, U.S. President Donald Trump on Thursday signed a memorandum announcing tariffs on about $50 billion worth of Chinese exports, citing China’s unfair seizure of U.S. intellectual property.

Saudi Arabian Energy Minister Khalid al-Falih said on Thursday that OPEC members will need to continue coordinating with Russia and other non-OPEC oil-producing countries on supply restraints in 2019 to reduce the global oil oversupply.

Gold open higher than previous day’s close and continues its bullish trend for the day with a new monthly high of 30898. On upper side it has resistance level of 30988 and 31090. On lower side it has support level of 30796.

Silver open higher than previous day’s close and continues its bullish trend with a new weekly high of 38989. On upper side it has resistance level of 39076 and 39282. On lower side it has support level of 38675.

Crude oil open higher than previous day’s close and continues its bullish trend with a new monthly high of 4273. On upper side it has resistance level of 4289 and 4312. On lower side it has support level of 4190.

Copper open near to previous day’s close and continues its bearish trend. On lower side it has support level of 431.55 and 429.60. On the higher side it has resistance level of 436.25

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