Categorized Trading Tips of Mcx Market

Market Outlook

MCX Gold price was quite volatile on Tuesday and price moves in between a range i.e. 31600-31700, if price sustains below 31600 in upcoming session then again bearish trend will active as well as price can moves downside towards next support level of 31500. MCX Crude oil took some recovery from lower levels and price mananges above 4200 in next period then we will continue to suggesting bullish bias up to next resistance level of 4300. MCX Copper showed bearish movement and tests its major support level of 415 and if price breaks 415 in upcoming session then this bearish momentum can find next intraday support at 410 as well as down trend will active.

Fundamental News

Gold prices inched lower on Tuesday, dropping for the first time in four sessions, as the dollar rebounded from multi-week lows amid simmering Sino-U.S. trade tensions and as bullion failed to surpass a strong technical resistance.Crude Oil prices rose on Tuesday, supported by tighter global supplies that helped offset lingering worries that demand could be hurt by a U.S.-Chinese trade row.

GOLD

Gold showed sideways to bearish movement and found the major support level of 31450. Now if price sustains on lower level then it will test next support level of 31300. On other side 31700 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 36550. Now if price sustains on lower level then it will test next support level of 36850. On other side 35800 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4160. Now if price sustains on higher level then it will test next resistance level of 4230. On other side 4070 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 415. Now if price sustains on lower level then it will test next support level of 410. On other side 420 will be major resistance level.

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