Plan strategy With Accurate MCX Data

Market Outlook

MCX Gold price succeeded to touch our waited target at 30800 and pressues negatively on it in attempt to confirm breaking it, which supports the chances of extending the bearish wave on the intraday and short term basis. Oil price attempted to breach 4490 yesterday but it managed to end the day below it, which keeps the negative pressure valid and suggested in the upcoming period, MCX Copper price forming sideways trading recently, its consolidation below 458 increases the chances of surrendering to the bearish bias.

Fundamental News

Precious metal prices fell on a stronger dollar on Thursday, hovering close to a six-month low as the U.S. Federal Reserve Chair confirmed an outlook for higher interest rates in the United States. Crude Oil prices eased on Thursday as Iranian Oil Minister indicated Iran could accept a modest supply hike ahead of a key OPEC meeting in Vienna on Friday.

GOLD

Gold showed sideways to bearish movement and found the major support level of 30515. Now if price sustains on lower level then it will test next support level of 30378. On other side 30750 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 39391. Now if price sustains on lower level then it will test next support level of 38975. On other side 39582 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4500. Now if price sustains on higher level then it will test next resistance level of 4529. On other side 4385 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 452.25. Now if price sustains on lower level then it will test next support level of 450.85. On other side 458.90 will be major resistance level.

(Click to submit your details) Just one step to get best trading tips and Recommendation.

 

Leave a Reply

Your email address will not be published. Required fields are marked *