MCX Market Remarkable Trading Strategies | 01-Apr

Market Outlook

MCX Gold took reverse movement from its important support level of 31500 on Friday and if price trades below 31700 in upcoming session then it will continue with down trend and upwards side it has major resistance level at 31800. MCX Crude oil showed strong bullish movement after a long time as well as it also test 4200 level, if price manages above this level then it will moves up side up to next intraday resistance level of 4250 as well as resumes upward trend. MCX Copper also jumped from lower levels and test resistance of 451 and if price holds this level in next trading session then again bullish bias will active up to next resistance level of 460 and lower side it has immediate correctional level at 445.

Fundamental News

Gold gained on Friday en route to its second quarterly rise as the dollar eased on tepid U.S. economic data, while palladium snapped three straight sessions of sharp losses, ending the quarter on a positive note.

Texas, home to the largest U.S. shale play, saw oil production slip in January for the first time in a year, as pipeline bottlenecks in the Lone Star state prompted drillers to cut back.

Gold showed sideways to bullish movement and found the major resistance level of 31850. Now if price sustains on higher level then it will test next resistance level of 32000. On other side 31500 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 37900. Now if price sustains on higher level then it will test next resistance level of 38200. On other side 37250 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4220. Now if price sustains on higher level then it will test next resistance level of 4300. On other side 4120 will be major support level.

Copper showed sideways to bullish movement and found the major resistance level of 452. Now if price sustains on higher level then it will test next resistance level of 456. On other side 441 will be major support level.

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