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Market Outlook

MCX Gold price showed slight negative movement on Monday and if price sustains below 34500 in upcoming session then we will continue to suggesting bearish scenario towards next support level of 34300 and higher side it has immediate resistance level at 34900. MCX Crude oil continue with bearish trend and if price trades below 3800 in upcoming trading session then this momentum can shows more selling pressure towards next intraday support level of 3750. MCX Copper showed strong bearish movement and test its immediate support level of 445 and if price breaches 440 levels in next session then we expect more down side movement.

Fundamental News

Gold prices were stable on Monday, ahead of a U.S. Federal Reserve meeting later in the week where markets will watch for indications of monetary easing in the world’s largest economy. Oil prices weakened on Monday amid pessimism over U.S.-China trade talks and the prospect of slower economic growth globally that could reduce demand for crude.

   

GOLD

Gold showed sideways to bearish movement and found the major support level of 34600. Now if price sustains on lower level then it will test next support level of 34450. On other side 34900 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 41000. Now if price sustains on lower level then it will test next support level of 40700. On other side 41300 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3930. Now if price sustains on higher level then it will test next resistance level of 4000. On other side 3820 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 455. Now if price sustains on higher level then it will test next resistance level of 460. On other side 444 will be major support level.

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