Daily Intraday Trading Tips For Mcx Market

Market Outlook

MCX Gold price begins today’s trading with calm rise that hints the attempt to resume the expected bullish trend on the intraday basis, to motivate the price to continue rising in the upcoming sessions, reminding you that our next target is located at 32500. oil price confirmed the activation of the bearish flag pattern mentioned yesterday after closing the daily candlestick below its support line, and it managed to break the key support 3720, which supports the continuation of our bearish overview efficiently on the intraday and short term basis, There is No change to Copper price trades until this moment, as it settles within the bullish channel, to keep waiting to gather new positive momentum that assists to record more positive targets, located at 452.

Fundamental News

On Tuesday in Asia Gold prices edged up as the U.S. dollar fell. Crude Oil prices edged up on Tuesday in Asia after falling 3% in the previous session as a cut promised by Saudi Arabia and its allies in the enlarged OPEC+ failed to boost oil prices.

GOLD

Gold showed sideways to bearish movement and found the major support level of 31740. Now if price sustains on lower level then it will test next support level of 31530. On other side 31988 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 38079. Now if price sustains on lower level then it will test next support level of 37700. On other side 38680 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3656. Now if price sustains on lower level then it will test next support level of 3559. On other side 3800 will be major resistance level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 447.80. Now if price sustains on higher level then it will test next resistance level of 452.70. On other side 437.10 will be major support level.

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