Best Strategies for MCX Market

Market Outlook
MCX Gold goes down in morning session and made a low of 30760 but after that it took reverse movement from lower to upper side and made new highs and follows its bullish trend.Crude oil took some correction from higher to lower level and also unable to break its major resistance level of 4280 levels. For upcoming session it may continue with its bullish trend.Copper Mcx price touched their first negative target and the upcoming session our overview is bearish, the stability of the bearish support level 425 is important, for confirmation of bearish trend.

Fundamental News

Gold in times of market turmoil and sell silver when they are concerned about slowdown in global growth stifling consumption. Gold prices rallied to a more than six-week high as a slump in the dollar helped the precious metal hold onto gains despite easing concerns about the prospect of U.S.-China trade war.

Oil prices rose on Tuesday, pushed up by concerns that tensions in the Middle East could lead to supply disruptions.Crude also received support from OPEC members as Saudi Arabia and Russia both reiterated goals to extend the production cut agreement.

Gold open near to previous day’s close and continues its bullish trend for the day. On upper side it has resistance level of 30950 and 31090. On lower side it has support level of 30796.

Silver open near to previous day’s close and continues its bullish trend with a new weekly high of 39181. On upper side it has resistance level of 39181 and 39408. On lower side it has support level of 38955.

Crude oil open higher than previous day’s close made a new weekly high of 4279 but remain bearish for the day. On upper side it has resistance level of 4279 and 4312. On lower side it has support level of 4190.

Copper open below to previous day’s close and continues its bearish trend with a new weekly low of 425.00. On lower side it has support level of 425 and 423. On the higher side it has resistance level of 431.90

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Comment

Your email address will not be published. Required fields are marked *