Free Live MCX Tips For Current Market

 Market Outlook

MCX Gold price completed forming a bearish flag pattern to get a negative motive that supports the continuation of the main bearish trend, oil price ended yesterday’s trading above 4800 level, which hints the price head to turn to rise on the intraday and short term basis, the bullish bias will be suggested in the upcoming sessions. MCX copper price kept its negative stability by hitting the resistance at 430 and providing negative close below it, we will keep waiting for forming a new negative trading.

Fundamental News

On Friday Gold prices turned lower despite a weaker dollar as markets await the U.S. GDP data due later in the day.

On Friday crude oil prices were lower but were supported by trade talks and news that Saudi Arabia is suspending oil shipping in the Red Sea.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 29825. Now if price sustains on higher level then it will test next resistance level of 29988. On other side 29652 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 38405. Now if price sustains on higher level then it will test next resistance level of 38691. On other side 38000 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4685. Now if price sustains on lower level then it will test next support level of 4600. On other side 4800 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 423. Now if price sustains on lower level then it will test next support level of 421.10. On other side 431.60 will be major resistance level.

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