Plan Your Weekdays Strategy With Mcx Trading Tips 26 Aug 2019

Market Outlook

MCX Gold price took reverse movement from support level and showed strong bullish movement o Friday. For upcoming trading session, if price trades above 39000 levels then this momentum can give more upside movement up to next resistance level of 39300 and lower side it has immediate support at 38500. MCX Crude oil fell from higher level and settled down and if price sustains below 3850 levels in upcoming session then again bearish scenario will active towards next support level of 3800. MCX Copper showed strong bearish movement and test its major support level of 440 and we will continue to suggesting downward scenario foe next period.

Fundamental News

Gold surged 2% on Friday as investors interpreted U.S. Federal Reserve Chair Jerome Powell’s speech as leaning toward a dovish monetary policy stance and President Donald Trump’s latest comments exacerbated trade tensions with China. Oil prices fell on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods including crude oil, another escalation of a protracted trade dispute between the world’s two largest economies.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 38900. Now if price sustains on higher level then it will test next resistance level of 39000. On other side 37900 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 44700. Now if price sustains on higher level then it will test next resistance level of 45000. On other side 43600 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3810. Now if price sustains on lower level then it will test next support level of 3740. On other side 4030 will be major resistance level.

COPPER

Copper (sep) showed sideways to bearish movement and found the major support level of 438. Now if price sustains on lower level then it will test next support level of 434. On other side 447 will be major resistance level.

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