MCX Gold showed recovery from deeper support levels of 37500. Although it moved in a range since last three consecutive sessions where 37700 has been acting as key resistance above which 38000 is seen as next resistance while 37470 is still acting as important support. MCX Crude has bee showing range bound movement since last few sessions where 4200 is acting as crucial resistance whereas support is seen in the range of 4150-4130. It needs a decisive breakout on either side to decide the trend further. MCX Copper has been moving towards higher resistance of 442. If some correction happens then it may fall towards the near support of 437.
Gold was little changed on Wednesday as market activity remained largely subdued ahead of the U.S. central bank’s economic policy statement and a fast-approaching tariffs deadline, while palladium hovered near previous session’s record high.
Oil prices fell on Wednesday after industry data showed an unexpected build in U.S. crude inventories and as investors waited for news on whether a fresh round of U.S. tariffs on Chinese goods would take effect on Sunday.
Gold showed bullish movement and major resistance around level of 37738. Now if price maintains on higher level then it will test next resistance level of 38000. On other side 37400 will be major support level.
Silver showed bullish movement and major resistance around level of 43964. Now if price maintains on higher level then it will test next resistance level of 44000. On other side 43400 will be major support level.
Crude oil showed bearish movement and major support level of 4115. Now if price sustains on lower level then it will test next support level of 4100. On other side 4250 will be major resistance level.
Copper showed bullish movement and found major resistance around level of 442.75. Now if price sustain on lower level then next support level will be 438. And 445 will be major resistance level.
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