Highly Profitable Mcx Trading Tips

Market Outlook

MCX Gold price opens today’s trading with bearish bias to break 33500 level and settles below it, which puts the price under expected negative pressure on the intraday basis. Oil price succeeded to confirm breaching 3930 level after closing last week above it, our bullish overview will remain valid for the upcoming period supported by the EMA50, conditioned by the price stability above 3820. MCX Copper price begun its trading for today by forming an intraday bearish wave, attempting to relax before resuming the last bullish attempts, reminding you that the stability of 432 level is important to form an extra support for the current rebound.

Fundamental News

On Monday in Asia Gold prices edged down, weighed down by a rising U.S. dollar as traders awaited comments from a number of Federal Reserve officials this week, which may reinforce expectations for a pause in its rate hike cycle.On Monday in Asia Crude Oil prices traded slightly higher amid tightening supply caused by the U.S. sanctions on Venezuela and hopes that U.S. and China will soon make progress towards a trade deal.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 33650. Now if price sustains on higher level then it will test next resistance level of 33800. On other side 33343 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 40640. Now if price sustains on higher level then it will test next resistance level of 40950. On other side 40200 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3833. Now if price sustains on lower level then it will test next support level of 3750. On other side 4009 will be major resistance level.

Copper showed sideways to bullish movement and found the major resistance level of 443.65. Now if price sustains on higher level then it will test next resistance level of 448. On other side 437.20 will be major support level.

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