Live Mcx Trading Tips and Crude Oil market Analysis

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Market Outlook

Gold prices edged higher on Tuesday with two big speeches later in the day–British PM Theresa May on Brexit and Chinese President Xi Jinping at Davos on the global economic outlook Crude oil prices rose ON Tuesday with investors awaiting supply reports this week for direction. Market players continued to look for signs that major oil producers are adhering to planned output cuts. and the return of U.S. markets after a public holiday on Monday in a busy week for political risks with British .In morning session Baca metals opened with gap down but after session they recovered.

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Fundamental News

Gold climbed to the highest level in around eight weeks on Tuesday, as investors looked ahead to a highly-anticipated speech by British Pm Theresa May later in the day, at which she is expected to outline her plans for a ‘Hard Brexit’.

Oil prices rose on Tuesday, supported by a falling U.S. dollar and Saudi Arabia saying it would adhere to OPEC’s commitment to cut output.

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Gold showed sideway to bullish movement and found the important resistance level of 28600. Now if it will sustain below the important support level of 28350 then 28100 will act as next support level. On the other hand 28650 will act as a major resistance level.

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Silver showed bearish movement and found the important support level of 40900. Now if it will sustain below 40600 then 40000 will act as next support level. On the other hand 41500 will act as a major resistance level.

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Crude showed sideways to bearish movement and found the important support level of 3550. Now if it will close above the important resistance level of 3600 then 3700 will act as next resistance level. On the other hand 3550 will act as a major support level.

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Copper showed sideways movement and found the important resistance level of 399. Now if it will close below the important support level of 390 then 385 will act as next support level. On the other hand 402 will act as a major resistance level.

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