Invest In Mcx Market With Best Tips

Market Outlook

MCX Gold took quick recovery from lower to higher side and retests its psychological resistance level of 35000 and if price manages above 35200 in upcoming session then again bullish momentum will continue up to next resistance level of 35500. MCX Crude oil showed slight negative movement and we will continue to suggesting bearish trend for upcoming trading session, if price sustains below 3850 levels and higher side it has immediate resistance level at 4000. MCX Copper showed sideways to bearish movement on Wednesday. For upcoming period, if price sustains below 445 then this momentum can take price towards next support of 440.

Fundamental News

Gold prices rose on Wednesday as escalating tensions in the Middle East drove investors towards the safe-haven metal, while reports of progress in Sino-U.S. trade negotiations, and a stronger dollar limited the metal’s gain.

Oil prices nudged higher on Wednesday on rising tensions over Iran, a sharp fall in U.S. crude stocks and positive signs on Sino-U.S. talks, although worries about weak demand kept a cap on gains.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 35100. Now if price sustains on higher level then it will test next resistance level of 35200. On other side 34900 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 41800. Now if price sustains on higher level then it will test next resistance level of 42100. On other side 41300 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4000. Now if price sustains on higher level then it will test next resistance level of 4080. On other side 3870 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 454. Now if price sustains on higher level then it will test next resistance level of 459. On other side 449 will be major support level.

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