Make Safe Trading with Best MCX Tips

Market Outlook

MCX Gold price keeps its stability above 31800 level after testing it yesterday, the bullish trend will remain active for today conditioned by the price stability above 31800, Oil price shows calm positive trading after testing 3630 level yesterday, We should note that breaking 3630 will push the price to achieve negative targets that begin at 3530 and extend to 3420. MCX Copper price gained a new positive momentum by stochastic approach from the overbought level, to increase the chances for resuming the bullish attempts that targets 418 level reaching to the resistance at 424. Trading range for today is between 418 and 412.

Fundamental News

On Friday in Asia Gold prices edged up as U.S. dollar slipped on expectations that the Federal Reserve may pause interest rates hike this year if the global economy continues to slow.

On Friday in Asia Crude Oil prices were little changed as investors awaited a new catalyst, either a breakthrough in U.S.-Sino trade talks or another impactful number on Saudi production cuts, to take the market higher.

Gold showed sideways to bullish movement and found the major resistance level of 32076. Now if price sustains on higher level then it will test next resistance level of 32250. On other side 31880 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 39639. Now if price sustains on higher level then it will test next resistance level of 39950. On other side 39207 will be major support level.

Crude oil showed sideways to bearish movement and found the major support level of 3614. Now if price sustains on lower level then it will test next support level of 3500. On other side 3764 will be major resistance level.

Copper showed sideways to bullish movement and found the major resistance level of 417.80. Now if price sustains on higher level then it will test next resistance level of 425. On other side 412.85 will be major support level.

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