Live Mcx Trading Tips for beginners

Market Outlook

MCX Gold price was again fell from higher levels and retest its major support level of 34200 and if price sustains below 34200 in upcoming trading session then again bearish bias will active towards next support level of 34200 and higher side it has important resistance level at 34500. MCX Crude oil was still volatile on Friday. For upcoming session, if price trades above 4100 then we expect more bullish movement up to next resistance level of 4150. MCX Copper showed quite bullish movement and test its immediate resistance level of 447 and if price maintains above this level in next session then this bullish momentum can find next strong resistance at 455.

Fundamental News

Gold prices were flat on Friday, but ended the month with their biggest monthly gain since June 2016 amid increasing geopolitical tensions and hopes the Federal Reserve will deliver an interest-rate cut as soon as July.

The U.S.-Iran standoff and shrinking American crude stockpiles propelled oil to its biggest monthly gain since January. Prices tumbled immediately before Friday’s close as traders closed positions and the EU said a workaround to Iran sanctions was in operation.

GOLD

Gold showed sideways to bearish movement and found the major support level of 34100. Now if price sustains on lower level then it will test next support level of 33950. On other side 34500 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 37350. Now if price sustains on lower level then it will test next support level of 37000. On other side 37700 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4050. Now if price sustains on lower level then it will test next support level of 3980. On other side 4150 will be major resistance level.

Copper showed sideways to bullish movement and found the major resistance level of 450. Now if price sustains on higher level then it will test next resistance level of 455. On other side 440 will be major support level.

 

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