Accurate Prediction Of Mcx Market With Graphs

Market Outlook

MCX Gold price took reverse movement from its resistance level of 34600 on Tuesday and if price sustains below 34100 in upcoming session then 33900 will act as a next immediate support level as well as downward scenario will remain active. MCX Crude oil showed sideways movement. For upcoming period we will keep bullish overview, if price maintains above 4050 and lower side it has correctional level at 3900. MCX copper showed strong bearish movement and also broke its major support level of 435 and this bearish momentum can find next immediate support at 430 in upcoming trading session and upwards side it has resistance at 440.

Fundamental News

Gold eased to a one-week low on Tuesday, consolidating below $1,400 as the dollar rallied on expectations of a less dovish U.S. Federal Reserve ahead of testimony from the chairman of the central bank. Oil rose towards $65 a barrel on Tuesday as OPEC supply cuts and Middle East tensions outweighed the U.S.-China trade dispute that has been dragging down the global economy and oil demand.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 34650. Now if price sustains on higher level then it will test next resistance level of 34800. On other side 34300 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 38250. Now if price sustains on higher level then it will test next resistance level of 38550. On other side 37800 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3910. Now if price sustains on lower level then it will test next support level of 3850. On other side 4000 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 430. Now if price sustains on lower level then it will test next support level of 425. On other side 438 will be major resistance level.

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