Indian MCX Market Trading Tips With High Accuracy

Market Outlook

MCX Gold price shows more sideways and tight trading and still within the intraday bullish channel, to keep our bullish overview that its first target located at 30800. Oil price approaches testing the key support 4890 after the decline that it witnessed yesterday; we will continue to suggest the bullish trend conditioned by the price stability above 4890. MCX Copper price was forced to form intraday positive rebound yesterday On the other hand, facing strong positive pressures and rallying above this resistance will cancel the negative expectations, to expect forming strong bullish rally that targets 438.

Fundamental News

 On Tuesday Gold prices inched up, as a lower U.S. dollar and trade tensions bolstered the precious metal.On Tuesday Crude Oil prices climbed marginally morning in Asia as investors took a step back to consider U.S. output and inventories by the world’s three largest producers.

GOLD

Gold showed sideways to bearish movement and found the major support level of 30535. Now if price sustains on lower level then it will test next support level of 30385. On other side 30738 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 37005. Now if price sustains on lower level then it will test next support level of 36641. On other side 37527 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 5070. Now if price sustains on higher level then it will test next resistance level of 5114. On other side 4891 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 421.10. Now if price sustains on lower level then it will test next support level of 418.90. On other side 431.10 will be major resistance level.

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