Live MCX Trading Tips For Investors

Market Outlook

MCX Gold price continues with bearish track and also test 31400 levels. For next session it may give more downside movement and test next strong support of 31200. MCX Crude was quite volatile and price moves in between 4400-4500 levels and if price trades above 4500 levels then it gives some clarity about bullish bias and lower side it has immediate support at 4350. MCX Copper showed downward side movement and if price sustains below 420 in upcoming session then 415 will act as a next important support or if price takes quick recovery then it can find immediate resistance of 430 and after that 435 will be next support level.

Fundamental News

Gold eased on Tuesday after touching a more than two-week low in the previous session, as increasing bets that the U.S. Federal Reserve will not cut interest rates this year boosted the dollar which usurped bullion’s safe-haven appeal.

Oil prices rose on Tuesday on escalating U.S.-Iran tensions and amid expectations that OPEC producers will continue to curb supply this year.

GOLD

Gold showed sideways to bearish movement and found the major support level of 31300. Now if price sustains on lower level then it will test next support level of 31150. On other side 31550 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 36150. Now if price sustains on lower level then it will test next support level of 35800. On other side 36400 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4480. Now if price sustains on higher level then it will test next resistance level of 4550. On other side 4380 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 419. Now if price sustains on lower level then it will test next support level of 415. On other side 425 will be major resistance level.

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