Get Best MCX Trading Tips By Market Expert

 Market Outlook

MCX Gold price tested the minor resistance 30200, and still organized inside the intraday bullish channel, waiting to breach the mentioned resistance to confirm extending the bullish wave towards 30550. Oil price ended yesterday above 4870 level, which reinforces the expectations of continuing the bullish trend on the intraday and short term basis, waiting to achieve our positive targets that start at 4890, and MCX Copper price managed to build minor bullish channel recently, to confirm the preparation to resume the expected correctional bullish attempts.

Fundamental News

Precious metal price fell on Thursday and is set to record a fifth monthly fall on expectations of a higher interest rate, while the dollar also edged lower .

On Thursday Crude oil prices rose as data showed a fall in U.S. crude stocks in the week to Aug 24.

GOLD

Gold showed sideways to bearish movement and found the major support level of 30110. Now if price sustains on lower level then it will test next support level of 30000. On other side 30316 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 36850. Now if price sustains on lower level then it will test next support level of 36534. On other side 37158 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 5015. Now if price sustains on higher level then it will test next resistance level of 5084. On other side 4930 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 425.15. Now if price sustains on higher level then it will test next resistance level of 427.95. On other side 417.25 will be major support level.

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Comment

Your email address will not be published. Required fields are marked *