Intraday Trading Tips For Best Mcx Market Result 23-Sept-2019

Market Outlook

MCX Gold remained lower for first half of the session while recovered aggressively from the support levels in the later half. The bullion has been finding support around 37750 since last two sessions and is expected to continue the same whereas resistance is seen in range of 37900-38000. MCX Crude oil underwent choppy movement for the entire session without performing movements in a particular direction; however, it closed on a flat note. MCX Copper continued the weak trend so followed in the last four sessions. Any corrections from such deeper supports can find 449 as stiff resistance for it while the metal may drag towards the next support of 440.

Fundamental News

Gold prices rose on Friday as investors drew in their horns at the end of a week that has ultimately done little to give the market any real sense of direction. Oil prices eased on September 20 on renewed concern over the US-China trade war, Prices pared gains along with the stock and grains markets after Chinese agriculture officials that were due to visit U.S. farm states next week cancelled their trip to Montana and Nebraska to return to China sooner than originally scheduled.

GOLD

Gold showed bearish movement and found the major support level of 37438. Now if price sustains on lower level then it will test next support level of 37300. On other side 38000 will be major resistance level.

SILVER

Silver showed bearish movement and found the major support level of 46150. Now if price sustains on lower level then it will test next support level of 45500. On other side 47500 will be major resistance level.

CRUDE

Crude oil showed bearish movement and found the major support level of 4099. Now if price sustains on higher level then it will test next resistance level of 4300. On other side 4100 will be major support level.

COPPER

Copper showed bearish movement and found the major support level of 442.50. Now if price sustains on higher level then it will test next resistance level of 450. On other side 438 will be major support level.

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