Live Trading Tips of Mcx Market

Market Outlook

MCX Gold price could not manage to close the daily candlestick above 31100 level, starting today with bearish bias to continue moving below this level, witnessing bearish rebound signals that make us suggest trading negatively in the upcoming sessions, Oil price could not manage to hold for long time above 3760 level, to trade negatively after touching the minor bullish channel’s resistance, MCX Copper price repeated its fluctuation within a tight range in the last period,  the extra bullish targets that are located at 442 reaching to 452 level.

Fundamental News

On Wednesday in Asia Gold prices slipped as the dollar rebounded following a plunge on Wall Street overnight. Crude Oil prices fell on Wednesday morning in Asia following threats from Iran that it would disrupt oil shipments in the Gulf, which added to uncertainties ahead of the upcoming OPEC output meeting.

GOLD

Gold showed sideways to bearish movement and found the major support level of 30885. Now if price sustains on lower level then it will test next support level of 30750. On other side 31060 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 37100. Now if price sustains on lower level then it will test next support level of 36800. On other side 37380 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3852. Now if price sustains on higher level then it will test next resistance level of 3930. On other side 3692 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 436.50. Now if price sustains on higher level then it will test next resistance level of 443.90. On other side 432.10 will be major support level.

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