Highlighted Trading Tips Of Mcx Market

Market Outlook

MCX Gold price tested the key resistance 32200 and keeps its stability below it, we believe that the chances are valid to rebound bearishly and resume the expected bearish trend on the intraday basis. Oil price tested the bullish channel’s support line and keeps its stability above it until now, our bullish trend expectations will remain valid for the upcoming period, which target 3910. MCX Copper price continued to provide negative fluctuations affected by the major indicators’ negativity, to settle around 421, while facing continuous negative pressures will push the price to break 417 and open the way to target the key support 412.

Fundamental News

On Wednesday in Asia Gold prices were little changed despite an uptick in uncertainty surrounding the U.S.- China trade talks. Weak global economic data also remained in focus. On Wednesday in Asia Crude Oil prices edged up on hopes that increased Chinese fiscal stimulus could stem a spreading economic slowdown that has been weighing on energy prices.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 32217. Now if price sustains on higher level then it will test next resistance level of 32350. On other side 32057 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 39319. Now if price sustains on higher level then it will test next resistance level of 39700. On other side 38930 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3708. Now if price sustains on lower level then it will test next support level of 3630. On other side 3839 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 418.50. Now if price sustains on lower level then it will test next support level of 415.20. On other side 423.50 will be major resistance level.

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