Fruitful Trading Tips for Mcx Market

Market Outlook

MCX Gold price’s recent trades in its correctional level, the price needs to breach 31900 level to activate the positive effect, we will continue to suggest the bullish trend in the upcoming sessions after some correction from up to down sides, Oil price provided negative trading yesterday to break 3780 level and closes the daily candlestick below it, which supports the continuation of our bearish overview efficiently on the intraday and short term basis, MCX Copper price’s slow moves, we will keep waiting to resume the bullish attack to target 452 level & Our bullish overview by providing new positive momentum to increase the chances of reaching the waited positive targets.

Fundamental News

Precious metal could form a solid base at the $1,250 level amid the narrative of a Europe in trouble and a Federal Reserve likely to pause rate hikes. On Thursday in Asia Crude Oil prices gained after the Energy Information Administration (EIA) reported a drop in U.S. crude stockpiles.

GOLD

Gold showed sideways to bearish movement and found the major support level of 31486. Now if price sustains on lower level then it will test next support level of 31350. On other side 31700 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 38224. Now if price sustains on lower level then it will test next support level of 37800. On other side 38522 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3616. Now if price sustains on lower level then it will test next support level of 3530. On other side 3733 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 441.50. Now if price sustains on lower level then it will test next support level of 437.10. On other side 447.20 will be major resistance level.

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