Advance Mcx Trading Tips For Higher Profit

Market Outlook

MCX Gold price was quite volatile on Monday. For upcoming session we will keep bullish overview, if price maintains above 35300 and lower side it has immediate support at 35000. MCX Crude oil showed slight positive movement but we will still keep downward scenario for next session towards next support level of 3800 and if price takes quick recovery then this momentum can find immediate resistance level of 4000. MCX Copper took correction from higher to lower side after bullish movement and if price sustains below 450 levels in upcoming trading session then again bearish trend will active towards next support level of 440.

Fundamental News

Gold prices gained on Monday following a steep fall in the previous session as tensions in the Middle East and weaker financial markets supported the metal, while a stronger dollar kept a lid on gains.

Oil prices rose more than 2% on Monday on concerns that Iran’s seizure of a British tanker last week may lead to supply disruptions in the energy-rich Gulf.

Gold showed sideways to bullish movement and found the major resistance level of 35250. Now if price sustains on higher level then it will test next resistance level of 35400. On other side 35050 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 41400. Now if price sustains on higher level then it will test next resistance level of 41700. On other side 41000 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 3960. Now if price sustains on higher level then it will test next resistance level of 4040. On other side 3830 will be major support level.

Copper showed sideways to bearish movement and found the major support level of 453. Now if price sustains on lower level then it will test next support level of 447. On other side 460 will be major resistance level.

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