Profitable Returns From Mcx Trading Tips

 Market Outlook

Mcx Gold price begins today’s trading with new bearish bias, resuming its bearish track that its next target located at 30300, to keep the bearish trend suggested in the upcoming sessions, oil price shows bearish bias now to approach testing 4980 level again, Mcx Copper price succeeded to regain the bearish bias by crawling below 431 level recently, to move towards the second negative target at 414, facing 50%correction level that might force the price to form some sideways fluctuations until breaking this level.

Fundamental News

On Wednesday gold prices fell as the dollar firmed after the Trump administration threatened to impose additional tariffs on $200 billion worth of Chinese goods. Crude Oil prices fell on Wednesday after Washington threatened to levy new trade tariffs on China, just a few days after both countries imposed tit-for-tat tariffs on $34 billion of each other’s goods.

GOLD

Gold showed sideways to bearish movement and found the major support level of 30300. Now if price sustains on lower level then it will test next support level of 30205. On other side 30515 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 39200. Now if price sustains on lower level then it will test next support level of 38970. On other side 39749 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4880. Now if price sustains on lower level then it will test next support level of 4824. On other side 5084 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 416. Now if price sustains on lower level then it will test next support level of 402. On other side 430 will be major resistance level.


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