Tips on MCX Commodity Trading| 22-OCT

Market Outlook
MCX Gold price did not show strong move today, to fluctuate within sideways and tight track, settling below 32100 level, thus, the bearish trend scenario will remain valid as it is without any change, Oil price traded positively to breach 5120 level and settles above it, which urges caution from the upcoming trading, as holding above it will push the price to achieve more gains, MCX Copper price trades, to continue fluctuating below the moving average 55, postponing the main bullish attack, as the stability of 454 .

Fundamental News

On Friday Gold prices were flat as the U.S. currency was volatile despite expectations of another interest rate increase this year and falling equities.

Crude Oil prices rose on Friday, but remained at an inflection point after a rough week.

Gold showed sideways to bearish movement and found the major support level of 31863. Now if price sustains on lower level then it will test next support level of 31730. On other side 32047 will be major resistance level.Silver showed sideways to bearish movement and found the major support level of 38689. Now if price sustains on lower level then it will test next support level of 38336. On other side 38957 will be major resistance level
Crude oil showed sideways to bullish movement and found the major resistance level of 5144. Now if price sustains on higher level then it will test next resistance level of 5211. On other side 5061 will be major support level.
Copper showed sideways to bullish movement and found the major resistance level of 453.65. Now if price sustains on higher level then it will test next resistance level of 456.30. On other side 447.15 will be major support level.
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