High Probability Mcx Trading Tip Strategy

Market Outlook

MCX Gold broke its major resistance of 32000 on Monday and if price trades above 32500 in upcoming session then again bullish bias will active as well as it can test next immediate resistance of 32800. MCX crude oil showed strong bullish momentum and test 4400 levels. For upcoming period we will keep bullish overview, if price manages above 4450 and lower side it has initial support at 4350. MCX Copper was quite volatile and if price sustains below 425 in next trading session then again bearish trend will active towards next intraday support of 420 and after that 415 will act as a next immediate support level.

Fundamental News

Gold prices fell on Monday as an escalating trade conflict between Washington and Beijing weighed on the yuan, denting demand in the world’s biggest consumer of the metal, China.

Oil futures rose on Monday on increasing concerns about supply disruptions in the Middle East even as investors and traders fretted over global economic growth prospects amid a standoff in the Sino-U.S. trade talks.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 32500. Now if price sustains on higher level then it will test next resistance level of 32800. On other side 32200 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 37722. Now if price sustains on higher level then it will test next resistance level of 38300. On other side 37400 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4300. Now if price sustains on lower level then it will test next support level of 4200. On other side 4400 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major resistance level of 425.75. Now if price sustains on higher level then it will test next resistance level of 430. On other side 424 will be major support level.

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