Tips for Higher Returns from MCX trading

Market Outlook
Gold MCX price in negative trades price in morning session made low around 30217 level, after that positive correction pull it towards 30300 Gold price sustaining below 30200 level may result to slide towards 3000, Crude oil MCX price maintaining upwards to breach 4130 level, which price is showing us its return to their main bullish trend, if its breaching 4150 level and settled above it, then we will confirm the bullish trend. MCX copper price stable below support level of 447.50 level and repeated the sideways trading.

Fundamental News

Silver prices are moderately lower in early U.S. trading Tuesday, pressured by a firmer U.S. dollar index and some technical selling.

More than one million tonnes of copper production this year targeted by Zambia. Non-OPEC supply, led by the U.S., will grow by 1.8 million bpd this year, while demand will only grow by about 1.5 million bpd.

Gold showed sideways to bearish movement and found the major support level of 30165. Now if price sustains on lower level then it will test next support level of 30043. On other side 30439 will be major resistance level.

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 37720. On other side 38550 will be major resistance level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4200. Now if price sustains on higher level then it will test next resistance level of 4240. On other side 3950 will be major support level.

Copper showed sideways to bearish movement and found the major support level of 437.20. Now if price sustains on lower level then it will test next support level of 432.25. On other side 448.90 will be major resistance level.

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