MCX Market Accurate Trading Strategies

Market Outlook

MCX Gold price broke its major support level of 31500 on Wednesday and upcoming session it will remain continue with downward trend as well as test next immediate support of 31300. MCX Crude oil was still volatile and if price not breaks 4500 levels then we will keep bearish overview towards next support of 4350 and below this level this momentum can take next support at 4300. MCX Copper showed strong bullish movement and test important resistance level of 459 and if price manages above this level in next trading session then it price can moved upside up to next resistance level i.e. 465 levels.

Fundamental News

Gold fell on Wednesday, holding near the 2019 lows touched in the previous session, as robust economic data from China assuaged concerns about global growth and drove investors to riskier assets.

U.S. crude oil inventories fell last week, breaking a stretch of three consecutive builds, according to official government data released on Wednesday.

Gold showed sideways to bearish movement and found the major support level of 31450. Now if price sustains on lower level then it will test next support level of 31300. On other side 31650 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 37050. Now if price sustains on lower level then it will test next support level of 36800. On other side 37500 will be major resistance level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4480. Now if price sustains on higher level then it will test next resistance level of 4550. On other side 4420 will be major support level.

Copper showed sideways to bullish movement and found the major resistance level of 459. Now if price sustains on higher level then it will test next resistance level of 463. On other side 452 will be major support level.

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