Daily Free Mcx Trading Tips And Updates

Market Outlook

 MCX Gold opened on a flat note and traded at higher levels as i.e. above the previous close. If the bullion sustains above 39700 then next resistance is seen around 39850-39900. On lower side, 39400 is seen as important support from current levels.  MCX Crude opened on a flat note resisted near 4150 for the session. Major support now is seen near 4050 whereas holding above 4150 can wintess a pull back in the counter towards 4200. MCX Copper continued the positive momentum so seen in the previous session which may provide a push towards 460 mark from current levels whereas 450 is acting as key support for the metal since last few sessions.

Fundamental News

Gold prices held steady on Thursday after the United States and China signed a preliminary trade deal, as investors worried that a number of sore issues remained unresolved between the world’s two top economies.

Oil prices rose on Thursday buoyed by the long-anticipated signing of an initial Sino-U.S. trade deal that sets the stage for a jump in Chinese purchases of American energy products, while U.S. crude inventories fell more than expected.

GOLD

Gold showed bullish movement and major resistance around level of 39775. Now if price maintains on higher level then it will test next resistance level of 40000. On other side 39400 will be major support level.

 

SILVER

Silver showed bullish movement and major resistance around level of 46579. Now if price maintains on higher level then it will test next resistance level of 47000. On other side 45700 will be major support level.

CRUDE

Crude oil showed bullish movement and major resistance level of 4175. Now if price sustains on lower level then it will test next support level of 4100. On other side 4300 will be major resistance level.

COPPER

Crude oil showed bullish movement and major resistance level of 4175. Now if price sustains on lower level then it will test next support level of 4100. On other side 4300 will be major resistance level.

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