Base Metal Updated Tips for Mcx Market

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Market Outlook

MCX Gold price begins today’s trading with bearish bias that hints resuming the main bearish trend, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, which targets 1204.50 level as a next main station, oil price settled below 4765 level, and the price falls under negative pressure e prefer staying aside temporarily until we get a clearer signal for the next trend, mcx copper Copper price succeeded to gather new negative momentum to end the positive pressures and confirm renewing the expected negative attempts.

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Fundamental News

On Monday Gold prices edged lower while the dollar was little changed as market participants awaited key central bank meetings due later this week. On Monday crude oil rose as investors remained cautious over the supply outlook, although the fallout from global trade tensions limited price gains.

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GOLD

Gold showed sideways to bullish movement and found the major resistance level of 29792. Now if price sustains on higher level then it will test next resistance level of 29904. On other side 29678 will be major support level.

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SILVER

Silver showed sideways to bullish movement and found the major resistance level of 38410. Now if price sustains on higher level then it will test next resistance level of 38691. On other side 38146 will be major support level.

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CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4842. Now if price sustains on higher level then it will test next resistance level of 4907. On other side 4709 will be major support level.

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COPPER

Copper showed sideways to bearish movement and found the major support level of 421. Now if price sustains on lower level then it will test next support level of 418.75. On other side 426.70 will be major resistance level.

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