Improve Your MCX Trading With Mcx Signals

 Market Outlook

MCX Gold price tested the key support 30300 yesterday without managing to break it, to show some slight bullish bias, which continues to form the negative pressure against the price, supporting the expectations of continuing the bearish trend in the upcoming period. Oil price bounced upwards clearly after testing 5200 level yesterday, which supports the continuation of the bullish trend efficiently in the upcoming sessions. MCX Copper price was forced to show some sideways fluctuations due to lacking the positive momentum & trading range for today is between 456 and 445.

Fundamental News

 On Wednesday As expected the U.S. Federal Reserve raised interest rates for the third time this year and left intact its plans to steadily tighten monetary policy, as it forecast that the U.S. layoff would enjoy at least three more years of growth.

On Thursday Crude Oil prices rose, lifted by looming U.S. sanctions against major crude exporter Iran.

GOLD

Gold showed sideways to bearish movement and found the major support level of 30300. Now if price sustains on lower level then it will test next support level of 30137. On other side 30665 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 37410. Now if price sustains on lower level then it will test next support level of 37136. On other side 38060 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 5283. Now if price sustains on higher level then it will test next resistance level of 5307. On other side 5211 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 446.10. Now if price sustains on lower level then it will test next support level of 439.50. On other side 455.50 will be major resistance level.

 

 

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