Profitable Commodity Mcx Trading Tips For Investors

Market Outlook

MCX Gold showed slight negative movement on Thursday and test its major support level of 35100 and if price sustains below 35000 in upcoming session then again bearish trend will active towards next support level of 34800 and higher side it has immediate resistance level at 35300. MCX Crude oil was quite volatile but we will keep downward overview for upcoming trading session towards next support level of 3750. MCX Copper continues with down trend and if price breaches 440 levels in next session then this bearish momentum can find next crucial support level of 435 and after that 430 will act as a next support level.

Fundamental News

Gold prices dropped to two-week lows on Thursday after the U.S. Federal Reserve cut rates by 25 basis points as expected but tampered market expectations of a lengthy easing cycle, lifting the dollar to a two-year high.

Oil dropped below $65 a barrel on Thursday, declining for the first time in six days, after the U.S. Federal Reserve dampened hopes for a string of interest rate cuts and as rising U.S. output helped keep the market well supplied.

GOLD

Gold (oct) showed sideways to bullish movement and found the major resistance level of 35800. Now if price sustains on higher level then it will test next resistance level of 35950. On other side 35000 will be major support level.

 

SILVER

Silver showed sideways to bearish movement and found the major support level of 40200. Now if price sustains on lower level then it will test next support level of 39900. On other side 41000 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3740. Now if price sustains on lower level then it will test next support level of 3650. On other side 4030 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 440. Now if price sustains on lower level then it will test next support level of 435. On other side 445 will be major resistance level.

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