MCX Trading Signals – A Necessary Tool in Trading

 

 Market Outlook

MCX Gold price opens today’s trading with clear negativity to surpass the EMA50 and settles below it now, which supports the expectations of continuing the bearish trend in the upcoming period, oil price traded with clear negativity to break the support lines that appear on the chart the bearish bias will be suggested for today unless the price managed to breach 5565 level and hold above it, MCX Copper price to crawl below the moving average 55, achieving 454 level, to increase the effect of the bearish bias domination to start suggesting the bearish attempts to target 447.

Fundamental News

 On Monday a stronger U.S. dollar and rising U.S. government bond yields could represent a significant headwind for gold this week despite Friday’s gains, as the precious metal’s inverse relationship to the greenback continues to offset safe haven demand.

On Monday Crude Oil prices fell slightly morning in Asia on reports that Washington is considering granting waivers to sanctions against Iran’s oil exports that take effect in November.

GOLD

Gold showed sideways to bearish movement and found the major support level of 31205. Now if price sustains on lower level then it will test next support level of 31000. On other side 31531 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 38405. Now if price sustains on lower level then it will test next support level of 38055. On other side 39100 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 5423. Now if price sustains on lower level then it will test next support level of 5325. On other side 5513 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 451.70. Now if price sustains on lower level then it will test next support level of 446.40. On other side 458.10 will be major resistance level.

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