Easy and Professional Trading Strategy of Mcx Market

Market Outlook

MCX Gold slips from higher levels on Monday and also broke its major support level of 32500. For upcoming trading session bearish scenario will remain active towards next support of 32000. MCX Crude oil price also falls from upper side and test its strong support of 4000 and it also closes below this level and right now, it has immediate support of 3950 and if price moves on upside then it may test resistance of 4050. MCX Copper takes some correction from higher levels after bullish movement on Monday and closed around its initial support of 455 and if price trades below this level on next trading session then it will find next support of 450.

Fundamental News

Prices of Gold edged higher on Monday, after falling below the critical $1,300 level to their lowest since Jan. 25 in the previous session, as the dollar softened on prospects of a trade deal between China and the United States. Prices of Crude rose on Monday, buoyed by output cuts by producer club OPEC and reports that the United States and China are close to a deal to end a bitter tariff row that has slowed global economic growth.

GOLD

Gold showed sideways to bearish movement and found the major support level of 32255. Now if price sustains on lower level then it will test next support level of 32100. On other side 32550 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 37968. Now if price sustains on lower level then it will test next support level of 37600. On other side 38301 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 4150. On other side 3983 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 456.80. Now if price sustains on lower level then it will test next support level of 452. On other side 462 will be major resistance level.

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