Online MCX Tips With High Accuracy

Market Outlook

MCX Gold correct from lower levels on Tuesday from last trading day session and test major resistance level of 31745 and if price sustains below 31600 level in upcoming session then we will keep bearish overview towards next strong support i.e. 31400 levels. MCX Crude oil was on correction on last trading session from lower levels but not maintains on higher level and slide down, if its trades below 4230 in next trading session then bearish bias will remain active as well as it can test next support of 4150. MCX Copper was also showed sharp downfall from higher levels. For upcoming period, if price sustain below 428 then this bearish momentum can test next support of 422 and higher side it has immediate resistance at 436.

Fundamental News

Gold prices gained on Tuesday as stock markets weakened after a U.S. threat to hike tariffs on Chinese imports renewed trade tensions and improved demand for safe-haven bullion.

Oil prices slipped nearly 2% on Tuesday, on track to fall to their lowest closing levels in over a month, as renewed doubts over a U.S.-China trade deal stoked concerns over global growth and on expectations that U.S. crude stockpiles could hit fresh 19-month highs.

Gold showed sideways to bullish movement and found the major resistance level of 31770. Now if price sustains on higher level then it will test next resistance level of 31900. On other side 31500 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 37600. Now if price sustains on higher level then it will test next resistance level of 37900. On other side 37100 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4350. Now if price sustains on higher level then it will test next resistance level of 4420. On other side 4220 will be major support level.

Copper showed sideways to bearish movement and found the major support level of 429. Now if price sustains on lower level then it will test next support level of 425. On other side 438 will be major resistance level.

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