MCX Market Accurate Trading Tips

Market Outlook

MCX Gold price keeps its stability above the support level of 32000, which keeps the bullish trend scenario for next trading session up to next important resistance level of 32500. MCX Crude oil showed positive movement on Wednesday and also test major resistance of 4050 and if price trades above this level in next session then we will continue to suggest uptrend and lower side it has immediate support of 3990. MCX Copper also showed bullish movement and test its immediate resistance of 455 and if price maintains above this level then up trend will remain active up to next resistance level i.e. 460 and if price takes correction from higher levels then it may test support of 450.

Fundamental News

Gold price scaled a near two-week peak on Wednesday, after reclaiming the key $1,300 level in the previous session, as investors opted for the safe-haven metal after British lawmakers rejected an amended exit deal, while a weaker dollar lent further support.

Prices of Crude oil rose on Wednesday, after an official forecast showed slower-than-expected U.S. production and U.S. sanctions stalled exports from Venezuela.

Gold showed sideways to bullish movement and found the major resistance level of 32320. Now if price maintain above 32320 on higher side then it will test next resistance level of 32500. On other side 32000 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 38950. Now if price maintain above 38950 on higher level then 39300 will test next resistance level. On other side 38500 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4055. Now if price sustains on lower level then 3950 will at as major support level. On other side 4100 will be major resistance level above which it may test 4200.

Copper showed bullish movement and found the major resistance level of 456. Now if price sustains on lower level then it will test support level of 450. On other side 462 will be major resistance level.

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