Win-Win Trading Tips of MCX Market Tips | 17 Sept.

 Market Outlook

MCX Gold price shows new test to 30550 level, and as long as the price is below this level, the bearish trend scenario will remain active for today. Oil price shows some slight bullish bias in attempt to move away from 4915, which supports the continuation of our bullish overview for today, which depends on holding above 4915. MCX Copper price kept its consolidation above the level 428, to confirm its affection by the expected bullish bias domination, expecting to move towards the first positive target at 438. trading range for today is between 423 and 433.

Fundamental News

 On Friday Gold prices rose as the U.S. dollar fell after lower than expected economic data.

Crude Oil prices recovered on Friday from the prior session’s sharp decline and remained on track for solid weekly gains as investors looked ahead to the latest gauge of U.S. production.

GOLD

Gold showed sideways to bearish movement and found the major support level of 30370. Now if price sustains on lower level then it will test next support level of 30219. On other side 30679 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 36963. Now if price sustains on lower level then it will test next support level of 36641. On other side 37385 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 5025. Now if price sustains on higher level then it will test next resistance level of 5140. On other side 4888 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 422.25. Now if price sustains on lower level then it will test next support level of 418.90. On other side 439.10 will be major resistance level.

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