Mcx Trading Tips For Investment

 

Market Outlook

MCX Gold bullish throughout the day and found psychological resistance level of 32000, if price maintains above 32050 level in upcoming session then we will keep bullish overview towards next strong resistance i.e. 32300 levels. MCX Crude oil was on bearish trend on last trading session from higher levels but not sustains on lower level and jump towards resistance level of 4350, if its trades below 4250 in next trading session then bearish bias will remain active. MCX Copper was also showed sharp downfall from higher levels. For upcoming period, if price sustain below 428 then this bearish momentum can test next support of 422 and higher side it has immediate resistance at 436.      

Fundamental News

Gold price rose on Thursday, supported by a weaker dollar and as investors sought safe-haven assets after U.S. President Donald Trump warned a trade deal with China was in danger, sending global stocks lower.

Nigeria is well placed to benefit from the looming exit of Iranian crude from global markets, though major buyer India will probably need to replace only 100,000 barrels per day (bpd).

Gold showed sideways to bullish movement and found the major resistance level of 32050. Now if price sustains on higher level then it will test next resistance level of 32200. On other side 31700 will be major support level.

 

Silver showed sideways to bullish movement and found the major resistance level of 37600. Now if price sustains on higher level then it will test next resistance level of 37900. On other side 37250 will be major support level.

Crude oil showed sideways to bearish movement and found the major support level of 4280. Now if price sustains on lower level then it will test next support level of 4200. On other side 4360 will be major resistance level.

Copper showed sideways to bullish movement and found the major resistance level of 433. Now if price sustains on higher level then it will test next resistance level of 438. On other side 426 will be major support level.

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