Daily Beneficial Tips & Reports For Mcx Market

Market Outlook

MCX Gold price took recovery from lower to higher side after yesterday’s downfall and continue with bullish trend on Wednesday. For upcoming session, if price maintains above its psychological resistance level of 38500 and this momentum can find next resistance level of 38800. .CX Crude oil trades above 4000 levels but unable to hold this level and we will continue to suggesting bearish trend for upcoming period towards next support level of 3900 and higher side it has immediate resistance at 4050. MCX Copper was still volatile and if price sustains below 440 levels in upcoming trading session then again downward scenario will active towards next support level of 435.

Fundamental News

Gold prices edged lower on Wednesday after the United States delayed tariffs on some Chinese imports, easing trade concerns, although political uncertainties and lingering global growth concerns limited losses for the safe-haven metal. Oil prices fell on Wednesday on disappointing economic data from China and Europe and a rise in U.S. crude inventories, partly erasing the previous session’s sharp gains after the United States said it would delay tariffs on some Chinese products.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 38400. Now if price sustains on higher level then it will test next resistance level of 38600. On other side 37600 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 44400. Now if price sustains on higher level then it will test next resistance level of 44800. On other side 42900 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3850. Now if price sustains on lower level then it will test next support level of 3760. On other side 4045 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 445. Now if price sustains on lower level then it will test next support level of 440. On other side 451 will be major resistance level.

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