Advance MCX Tips For Higher Profit

 

Market Outlook

MCX Gold price slips from higher levels and test its major support of 32150 but suddenly it took reverse movement from higher levels and if price trades above 32500 in upcoming period then again bullish bias will active up to next immediate resistance of 32700. MCX Crude oil showed some downside movement but still not showed proper stability, if price sustains below 4250 levels in upcoming session then it can find next major support of 4200 as well as bearish trend will remain active. MCX Copper also showed bearish movement and if price holds 425 levels in next trading session then this momentum can find new intraday support of 420.

Fundamental News

Gold prices steadied on Wednesday, having retreated from a one-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns, boosting global stocks and the dollar.

Oil fell on Wednesday after data showed a surprise rise in U.S. crude inventories and the U.S.-Chinese trade dispute threatened oil demand, although Middle East tensions capped losses.

GOLD

Gold showed sideways to bearish movement and found the major support level of 32150. Now if price sustains on higher level then it will test next resistance level of 32450. On other side 32100 will be major support level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 37400. Now if price sustains on higher level then it will test next resistance level of 38300. On other side 37400 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4286. Now if price sustains on lower level then it will test next support level of 4250. On other side 4400 will be major resistance level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 429.60. Now if price sustains on higher level then it will test next resistance level of 434. On other side 426 will be major support level.

 

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