Outstanding Trading Updates of Mcx Market | Live Tips

Market Outlook

MCX Gold price’s recent trades are confined within bullish pattern that appears on the chart, thus, the price needs to breach 32200 level to get positive motive that reinforces the chances of heading towards our main waited target at 32500. Oil price settles below 3630, and the price moves within intraday bearish channel that we are waiting to push the price for more decline. MCX for Copper price there is no news by its fluctuation within the tight sideways range, affected by the contradiction between the main indicators, the stability of 414 level supports the intraday positivity, to increase the chances for the price rally to test the resistance at 421.

Fundamental News

On Tuesday in Asia Gold prices were flat as a bounce in Asian stocks stoked interest in riskier assets, although investors remained cautious ahead of a key Brexit vote. On Tuesday Crude Oil prices rose by around 1 percent amid supply cuts led by producer club OPEC and Russia, although a darkening economic outlook may soon weigh on growth in fuel demand.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 32277. Now if price sustains on higher level then it will test next resistance level of 32380. On other side 32110 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 39770. Now if price sustains on higher level then it will test next resistance level of 40000. On other side 39461 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3712. Now if price sustains on higher level then it will test next resistance level of 3800. On other side 3607 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 419.50. Now if price sustains on higher level then it will test next resistance level of 423.70. On other side 415.50 will be major support level.

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