Accurate Mcx Trading Tips For Beginners

Market Outlook

MCX Gold showed strong bullish movement on Friday as well as it also broke its important psychological resistance level of 36000 after a long time. For upcoming trading session we will continue to suggesting bullish trend, if price manages above 36350. MCX Crude oil took quick recovery from lower to higher side after sharp downfall but the major trend is still sideways. It has important resistance level at 3950 and support level at 3800. MCX Copper showed strong bearish movement and also broke its strong support level of 435 and if price trades below 430 levels in upcoming week then it may give more downside movement towards next support level of 425.

Fundamental News

Gold steadied on Friday in seesaw trade as the dollar retreated on lackluster U.S. jobs data, putting bullion on course to notch its best week in six weeks following a surge of more than 2% in the previous session as U.S.-China trade relations soured further.

Oil prices gained about 3% on Friday a day after recording their biggest daily drop in several years on U.S. President Donald Trump’s vow to impose more tariffs on Chinese imports.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 36350. Now if price sustains on higher level then it will test next resistance level of 336550. On other side 35700 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 41600. Now if price sustains on higher level then it will test next resistance level of 41900. On other side 40800 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3930. Now if price sustains on higher level then it will test next resistance level of 4010. On other side 3800 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 432. Now if price sustains on lower level then it will test next support level of 428. On other side 442 will be major resistance level.

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published. Required fields are marked *

Show Buttons
Hide Buttons