Best Intraday Trading Tips For Mcx Market

Market Outlook

MCX Gold took sharp correction from higher to lower side on Monday and if price trades below 37500 levels in upcoming session then again shore term selling will active towards next immediate support level of 37300 and higher side it has strong resistance level at 38000. MCX Crude oil showed sideways movement and we will continue to suggesting bullish trend, if price maintains above 4000 levels and lower side it has support level at 3900. MCX Copper showed strong bullish movement and also broke its strong resistance level of 450 and it may continue with upward trend in upcoming session up to next resistance level of 460 and after that 465 will be next resistance level.

Fundamental News

Gold shed 1% on Monday as a recovery in share markets and rising U.S. Treasury yields reduced some of the metal’s safe-haven appeal, prompting investors to book profits. Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for signs that Sino-U.S. trade tensions could ease.

GOLD

Gold showed sideways to bearish movement and found the major support level of 37600. Now if price sustains on lower level then it will test next support level of 37400. On other side 37900 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 43100. Now if price sustains on lower level then it will test next support level of 42800. On other side 43700 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4050. Now if price sustains on higher level then it will test next resistance level of 4140. On other side 3910 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 452. Now if price sustains on higher level then it will test next resistance level of 456. On other side 444 will be major support level.

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