Daily Trading Data and Analysis of Mcx Market 03 Dec 2018

Market Outlook

MCX Gold price attempted to surpass the EMA50 but it returns to trade above it again, waiting to motivate the price to resume the bullish trend that depends on the price stability above 30100, MCX oil price provided new negative trades and surpassed our first target at 3575 to reach the thresholds of the second target at 3460, and it returned to rise again and move near the resistance level & our bearish overview will remain active for the upcoming period, MCX Copper price repeated its positive fluctuation by providing new pressures on the moving average, attempting to move for a new positive station by targeting 438 level, its increase the chances to  reaching resistance level at 442.

Fundamental News

President Donald Trump will at least suggest he has one down the road with China that the gold market’s betting, but there’s no trade deal on the table yet. For the November A 22% drop, that was the price West Texas Intermediate crude paid after the Russians stalled again on a production cut, sending the oil market to its biggest monthly loss in a decade.

GOLD

Gold showed sideways to bearish movement and found the major support level of 30180. Now if price sustains on lower level then it will test next support level of 30000. On other side 30420 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 35883. Now if price sustains on lower level then it will test next support level of 35500. On other side 36568 will be major resistance level.

  

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3478. Now if price sustains on lower level then it will test next support level of 3400. On other side 3633 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 431.40. Now if price sustains on lower level then it will test next support level of 425.60. On other side 436.50 will be major resistance level.

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