Today’s Market behaviour For Mcx Trading

Market Outlook

MCX Gold price succeeded to confirm breaching 32900 level, as it ended yesterday’s trading above it, to reinforce the expectations of continuing the bullish trend and the way is open to achieve our next waited target at 33500. Expectations of Crude Oil is continuing the bullish trend efficiently on the intraday and short term basis, waiting to get a daily close above the 3920 level and the bullish bias will remain suggested in the upcoming period. On Copper price’s trading continued effect of the positive pressures, the price success by providing a positive close above the breached barrier, so that will confirm its readiness to build a strong bullish trading to target 442 reaching to 448 level in the upcoming period.

Fundamental News

On Thursday in Asia Gold prices gained and remained above the key $1,300-an-ounce level for the fifth day in a row. On Thursday in Asia Crude Oil prices extended gains for the third day after the U.S. Energy Information Administration (EIA) weekly report showed crude stockpiles rose less than expected.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 33271. Now if price sustains on higher level then it will test next resistance level of 33390. On other side 32900 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 40700. Now if price sustains on higher level then it will test next resistance level of 41000. On other side 39900 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3938. Now if price sustains on higher level then it will test next resistance level of 4000. On other side 3848 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 440. Now if price sustains on higher level then it will test next resistance level of 445. On other side 435.50 will be major support level.

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