Online MCX Trading Tips & Strategies 21th January 2019

 

 

Market Outlook

MCX Gold price settles below 32100 now, which urges caution from the upcoming trading, as closing today’s trading below this level will turn the intraday to decline and push the price towards 31900 as a next station, Oil price rallied upwards strongly to surpass our first waited target at 3760 and settles above 3800 barrier now, which supports the continuation of our bullish overview in the upcoming period, MCX Copper price repeated providing slow positive trading, due to the contradiction between the main indicators, to notice its stability near the initial target at 428, we expect providing new positive touch that makes the price reach the resistance at 436.

Fundamental News

 On Friday in Asia Gold prices traded slightly lower after a report that the U.S. is considering easing tariffs on Chinese products improved sentiment toward risk assets and hit demand for safe havens.

On Wall Street Higher prices of stocks also helped oil, with the three main U.S. equity indexes all showing gains of more than 1% each.

GOLD

Gold showed sideways to bearish movement and found the major support level of 32050. Now if price sustains on lower level then it will test next support level of 31900. On other side 32320 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 39100. Now if price sustains on lower level then it will test next support level of 38800. On other side 39585 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3872. Now if price sustains on higher level then it will test next resistance level of 3950. On other side 3748 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 430.80. Now if price sustains on higher level then it will test next resistance level of 435. On other side 424.50 will be major support level.

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