Profitable Data For Best Result in Mcx market

 

Market Outlook

MCX Gold price showed strong bullish movement on Thursday and also broke its psychological resistance level of 35000 and we will still keep bullish overview for upcoming trading session up to next immediate resistance level of 35300. MCX Crude oil also continues with bullish bias as well as it broke its important resistance level of 4150 and for upcoming session this bullish momentum can find next resistance level of 4250 and lower side it has major support level at 4100. MCX Copper showed slight positive movement and it may give more bullish movement, if price maintains above 445 and after that 450 will act as a next strong resistance level.

Fundamental News

Gold prices scaled a more than one-week peak on Thursday, as the dollar slipped after dovish remarks from the U.S. Federal Reserve Chairman Jerome Powell boosted the case for an interest rate cut later this month. Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted tensions in the region.

GOLD

Gold showed sideways to bearish movement and found the major support level of 34650. Now if price sustains on lower level then it will test next support level of 34500. On other side 35200 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 38000. Now if price sustains on lower level then it will test next support level of 37700. On other side 38600 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4180. Now if price sustains on higher level then it will test next resistance level of 4250. On other side 4105 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 438. Now if price sustains on lower level then it will test next support level of 433. On other side 443 will be major resistance level.

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