Live Mcx Tips, Crude Oil News and Updates

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intraday-mcx-tips

Market Outlook

Gold and silver trading sideways to bullish due to mostly international market bank holiday .we expect in coming session bullion may trade to bullish. Crude and natural gas also trade in narrow range with some margin gain and next trading session crude may trade to bullish note as production cut deal among major oil exporters including Opec and Russia. Base metal given bullish moment today and it may possible that it will continuous in coming session.

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Fundamental News

Gold and silver were trading flat with marginal gains in early trade on the first day of Calendar 2017 due to lack of global cues amid subdued buying by jewelers, investors and industries.

The New Year started on a crude note for consumers as fuels across the board became costlier due to an uptick in global oil prices in the wake of a global production cut deal among major oil exporters, including Opec and Russia.

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Gold showed sideway to positive movement and found the important resistance level of 27650. Now if it will sustain below the important support level of 27400 then 27200 will act as next support level. On the other hand 27700 will act as a major resistance level.

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Silver showed sideways movement and found the important resistance level of 39950. Now if it will sustain below the important support level of 39500 then 39000 will act as next support level. On the other hand 40000 will act as a major resistance level.

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Crude showed sideways to bullish movement and found the important resistance level of 3675. Now if it will close above the important resistance level of 3675 then 3725 will act as next resistance level. On the other hand 3620 will act as a major support level.

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Copper showed strong movement and found the important resistance level of 379. Now if it will close below the important support level of 374 then 368 will act as next support level. On the other hand 380 will act as a major resistance level.

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