Mcx Market Guidance and News

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Fundamental News:

Gold reclaimed the Rs 31,000-mark at the domestic bullion market after fresh offtake from investors and stockists, driven by the black money crackdown in India and a surge in global cues amid Donald Trump’s victory in the US presidential election.

Oil fell on Wednesday in choppy trading after weekly data showed another build in U.S. crude inventories, just as the market began to recover from an initial Brexit-like reaction to Donald Trump’s surprise victory in the U.S. presidential election.

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gold

Gold showed sideways movement and found the important support level of 30000. Now if it will close below the important support level of 30000 then 29500 will act as next support level. On lower side 30500 will act as vital resistance level.

silver

Silver showed sideways movement and found the important support level of 43500. Now if it will close above the important resistance level of 44200 then 45000 will act as next resistance level. On lower side 43250 will act as vital support level.

crude

Crude showed bearish movement and found the important support of 2900. Now if it will break the next support level of 2900 then 2850 will act as next key support level. On the other hand 3050 will act as a major resistance level, if it breaks the prices could visit 3100 level.

copper

Copper showed bullish movement and found the important resistance level of 360. Now if it will break the resistance level of 361 then 367 will act as next resistance level. On the other hand 353 will act as a major support level.

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