Grab the Accurate MCX Trading Tips

Market Outlook

MCX Gold took some recovery from lower levels after sharp downfall on Thursday and if price trades above 32000 in next trading session then it will give more upside movement and price may test next resistance of 32400 as well as bullish trend will resumes. MCX Crude oil dropped and test 3900 levels and if price sustains below this level in next session then we will keep our bearish overview towards next correction level at 3800 and upward side it has important resistance of 4000. MCX Copper continues with its downward momentum and also broke immediate support of 450 and below this level it has another support of 440 as well as bearish trend will remain active in next trading session.

Fundamental News

Gold prices rebounded on Friday as the dollar eased slightly and worries about a sharp global economic slowdown after the European Central Bank (ECB) slashed growth outlook were aggravated by weak Chinese data, boosting demand for the safe-haven metal.

Prices of Crude oil dropped close to 2 percent on Friday on a worsening global economic outlook after the European Central Bank (ECB) warned of continued weakness and fresh data showed Chinese imports and exports slumped last month.

Gold showed sideways to bullish movement and found the major resistance level of 32250. Now if price sustains on higher level then it will test next resistance level of 32380. On other side 31940 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 38800. Now if price sustains on higher level then it will test next resistance level of 39100. On other side 38086 will be major support level.

Crude oil showed sideways to bearish movement and found the major support level of 3823. Now if price sustains on lower level then it will test next support level of 3750. On other side 3961 will be major resistance level.

Copper showed sideways to bearish movement and found the major support level of 447.20. Now if price sustains on lower level then it will test next support level of 443. On other side 453.10 will be major resistance level.

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published. Required fields are marked *

Show Buttons
Hide Buttons