MCX Gold goes up in the morning session and made a high of 30904 but after that it took reverse movement from upper to lower side and made new lows. Crude oil price trades today with bullish bias in shows to resume the bullish trend because of some correction are expected after the sideways fluctuation. We are waiting to touch 4320 level. Copper price provide us some bullish correction, the price fluctuate and stable below 437.50 resistance that confirms the bearish trend continuation.
Even as concerns over trade friction between Beijing and Washington subsided. Gold prices rose to a five-week high of $1,356.70 overnight buoyed by a weaker dollar and heightened tensions between Russia and the West.
Underlining concerns about a return of oversupply. Crude Oil prices ended slightly lower on Monday, as rising drilling activity in the United States pointed to further increases in shale output. Crude prices were little changed on Tuesday.
Gold showed sideways to bearish movement and found the major support level of 30625. Now if price sustains on lower level then it will test next support level of 30465. On other side 30929 will be major resistance level.
Silver showed sideways to bearish movement and found the major support level of 38505. Now if price sustains on lower level then it will test next support level of 38234. On other side 39181 will be major resistance level.
Crude oil open higher than previous day’s close made a new weekly high of 4305 but remain bearish for the day. On upper side it has resistance level of 4335 and 4312. On lower side it has support level of 4195.
Copper showed sideways to bullish movement and found the major resistance level of 438.30. Now if price sustains on higher level then it will test next resistance level of 446.15. On other side 425 will be major support level.
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