Advantageous MCX Trading Tips | 08th April

 

Market Outlook

MCX Gold price took sharp recovery from lower levels on Friday and it also test major resistance of 31900 and if price manages above resistance level then we expect some upward side movement up to next resistance level i.e. 32100. MCX Crude oil was again showed strength on higher side and if price trades above 4400 in upcoming period then it can find next intraday resistance level at 4450 as well as we will continue to suggest bullish bias. MCX Copper price fall from higher levels and took some correction, if price breaks and sustains below 440 in next session then again bearish trend will resume towards next immediate support level of 435 and after that 430 will act as anext crucial support level.

Fundamental News

Gold eased on Friday as Wall Street gained on data pointing to a rebound in jobs growth in the United States, but bullion’s losses were limited by a simultaneous slowdown in wage growth.

Prices of Crude oil gained 1.5 percent on Friday as strong U.S. employment data tempered fears about weakening global crude oil demand, and on expectations that an escalating conflict in Libya could tighten oil supplies.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 31900. Now if price sustains on higher level then it will test next resistance level of 32050. On other side 31700 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 37800. Now if price sustains on higher level then it will test next resistance level of 38100. On other side 37400 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4390. Now if price sustains on higher level then it will test next resistance level of 4450. On other side 4280 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 442. Now if price sustains on lower level then it will test next support level of 438. On other side 448 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Your email address will not be published.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