Appreciable MCX Tips To Make Higher Profit

Market Outlook

MCX Gold fell from higher levels on Thursday after unchanged US interest rate data and test major support level of 31255 and if price sustains below this level in upcoming session then we will keep bearish overview towards next strong support i.e. 31000 levels. MCX Crude oil was bearish and continues its bearishness for whole week, if its trades below 4300 in next trading session then bearish bias will remain active as well as it can test next support of 4200. MCX Copper was also bearish after US data. For upcoming period, if price sustain below 430 then this bearish momentum can test next support of 420 and higher side it has immediate resistance at 436.

Fundamental News

US Fed Defies Trump and Interest-Rate Speculators result Gold Prices near New 2019 Lows. China is adding great stimulus to its economy while at the same time keeping interest rates low.

Record U.S. crude production that led to a surge in inventories results

Oil fell more than $1 per barrel on Thursday. U.S. crude was down $1.47 at $62.13 per barrel, heading for its biggest weekly fall in two months.

Gold showed sideways to bearish movement and found the major support level of 31250. Now if price sustains on lower level then it will test next support level of 31100. On other side 31700 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 36600. Now if price sustains on lower level then it will test next support level of 36300. On other side 37150 will be major resistance level.

Crude oil showed sideways to bearish movement and found the major support level of 4230. Now if price sustains on lower level then it will test next support level of 4150. On other side 4450 will be major resistance level.

Copper showed sideways to bearish movement and found the major support level of 428. Now if price sustains on lower level then it will test next support level of 424. On other side 436 will be major resistance level.

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