Online Mcx Trading Tips and Updates

Market Outlook

MCX Gold showed bearish movement on Friday and if price breaks and sustains below 31400 in upcoming session then this momentum can find next immediate support at 31200 as well as bearish trend will remain continue. MCX Crude oil also showed strong downside movement and if price trades below 4000 in next period then it can test next important intraday support of 3950 and higher side it has important resistance of 4150. MCX Copper took quick recovery after sharp downfall. For upcoming session we will keep bullish overview if price maintains above 425 and after that 430 will be next resistance.

Fundamental News

Bullion and futures of gold jumped nearly 1% on Thursday, their biggest spring in nearly two weeks, as risk-averse investors fleeing everything from equities to oil embraced the safe-haven sanctuary of the yellow metal.

Oil rose toward $69 a barrel on Friday after two sessions of losses, but remained on track for its biggest weekly drop this year due to rising inventories and concerns of an economic slowdown.

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 31700 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 36300. Now if price sustains on lower level then it will test next support level of 36000. On other side 36750 will be major resistance level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4120. Now if price sustains on higher level then it will test next resistance level of 4200. On other side 4000 will be major support level.

Copper showed sideways to bearish movement and found the major support level of 414. Now if price sustains on lower level then it will test next support level of 410. On other side 418 will be major resistance level.

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