VIP Mcx Trading Tips With Daily Benefits 30-04-19

Market Outlook

MCX Gold showed positive movement on Friday and if price manages above 32000 in next session then again bullish bias will active and this momentum can find next immediate resistance of 32200. MCX Crude oil showed strong negative movemet and for upcoming week we will keep downward overview towards next important support level of 4300 and higher side it has strong resistance of 4500. MCX Copper was quite volatile and unable to cross 450 levels, now if price trades below 440 in next session then again bearish bias will active towards next support of 435 and if it takes recovery from lower levels then it can find initial resistance of 455.

Fundamental News

Gold steadied on Monday, trading near a more-than one week high touched in the previous session, on increased bets that the U.S. Federal Reserve might cut interest rate this year after a recent data showed inflationary weakness. Brent crude has risen about 40 percent this year and is at the highest in six months. While a higher price due to strong demand typically reflects a robust world economy, a shock from constrained supply is a negative.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 32000. Now if price sustains on higher level then it will test next resistance level of 32150. On other side 31750 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 37700. Now if price sustains on higher level then it will test next resistance level of 38000. On other side 37250 will be major support level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4350. Now if price sustains on lower level then it will test next support level of 4280. On other side 4620 will be major resistance level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 448. Now if price sustains on higher level then it will test next resistance level of 452. On other side 443 will be major support level.

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