Recover Your Losses With Our Mcx Report Analysis

Market Outlook

MCX Gold price showed strong bullish movement and test its psychological resistance level of 34500 and if price maintains above this level in upcoming session then we will keep bullish overview up to next resistance level of 34800. MCX Crude oil showed bearish movement as well as it also took quick recovery from lower to higher side and we will still keep bearish overview, waiting for support breakout i.e. 3850 levels.MCX Copper again fell from higher levels and also broke its major support level of 440. For upcoming trading session, it can breach its immediate support level of 435 and after that 430 will act as next strong support level.

Fundamental News

Gold prices touched a one-week high on Wednesday, driven by upbeat safe-haven sentiment as hopes of a quicker resolution of the U.S.-China trade dispute ebbed, while a potential trade feud with Europe deepened concerns over tepid economic growth. Oil prices were steady on Wednesday after a steep fall in the previous session, supported by extended output cuts by OPEC and its allies despite concerns that a slowing global economy could crimp demand.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 34500. Now if price sustains on higher level then it will test next resistance level of 34650. On other side 34150 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 38150. Now if price sustains on higher level then it will test next resistance level of 38550. On other side 37700 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3850. Now if price sustains on lower level then it will test next support level of 3730. On other side 3960 will be major resistance level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 443. Now if price sustains on higher level then it will test next resistance level of 449. On other side 435 will be major support level.

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