Graphical Analysis of MCX Market Tips

 

Market Outlook

MCX Gold price continues to fluctuate around the correctional bearish 31000 level, we will keep our bearish overview unless breaching 31100 level and holding above it, Oil price confirmed breaching 4580 level after holding with a daily close above it, the chances of continuing the bullish trend on the intraday and short term basis, MCX Copper price still lacks the positive momentum, confirming the continuation of the positivity needs strong positive momentum to push the price above the 463 level.

Fundamental News

On Thursday Gold prices edged higher in early morning trade as the U.S. dollar draged further back from a six-and-a-half month high.Oil prices edged lower in early action on Thursday, Organization of the Petroleum Exporting Countries will keep crude production curbs in place until at least the end of the year, U.S. rates notching their first gain in six sessions on the back of reports.

GOLD

Gold showed sideways to bearish movement and found the major support level of 30785. Now if price sustains on lower level then it will test next support level of 30675. On other side 31113 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 39840. Now if price sustains on lower level then it will test next support level of 39650. On other side 40220 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4500. Now if price sustains on lower level then it will test next support level of 4482. On other side 4628 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 454.70. Now if price sustains on lower level then it will test next support level of 450.85. On other side 461.85 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Your email address will not be published.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 *