Profitable Return From MCX Trading Tips

   

 

Market Outlook

MCX Gold price managed to reach our awaited target at 30600 and settles around it, reinforcing the chances of continuing the bearish trend that its next target located at 30380. Oil price settles around 5100 level after the strong bullish rally that it witnessed yesterday, and the price might witness some temporary sideways bias.MCX Copper price still stable within the bearish range, confirming the preparation to record more negative targets in the near term and medium term basis.

Fundamental News

Precious metal prices slipped on Thursday and continued to hover near a six-month low as traders digest the latest developments in the U.S.-China trade row. Oil prices were lower on Thursday amid output concerns from the U.S. and OPEC (Organization of the Petroleum Exporting Countries).


GOLD

Gold showed sideways to bearish movement and found the major support level of 30452. Now if price sustains on lower level then it will test next support level of 30370. On other side 30689 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 39027. Now if price sustains on lower level then it will test next support level of 38886. On other side 39592 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 5109. Now if price sustains on higher level then it will test next resistance level of 5170. On other side 4981 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 445.50. Now if price sustains on lower level then it will test next support level of 442.30. On other side 454.35 will be major resistance level.

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