Good Return and Benefit With Mcx Trading Tips

Market Outlook

MCX Gold price opened with positive bias and showed bullish direction and found resistance of 34890. For upcoming trading session, if price maintains above 35000 then we expect more upward rally towards next resistance level of 35500. MCX Crude oil showed strong bullish movement and test its important resistance level of 4058 and if price trades above 4070 in upcoming period then we will continue to suggesting bullish trend up to next intraday resistance level of 4120. MCX Copper price took reverse movement from lower levels and showed bullish movement. For upcoming session we will keep bullish overview towards next immediate resistance level of 425.

Fundamental News

Gold prices surged to a five-year high on Tuesday, extending gains for a sixth straight session, on the back of expectations of monetary easing by the U.S. Federal Reserve and a subdued dollar. Oil prices ticked up on Tuesday after the U.S. market open on anticipation that data due later would show crude stocks there declined, erasing earlier losses linked to concerns over waning demand.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 34900. Now if price maintains on higher level then it will test next resistance level of 35100. On other side 34500 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 38300. Now if price maintains on higher level then it will test next resistance level of 38600. On other side 37800 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4050. Now if price sustains on lower level then it will test next support level of 3990. On other side 4100 will be major resistance level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 420. Now if price maintains on higher level then it will test next resistance level of 425. On other side 415 will be major support level.

 

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