Beneficial MCX Trading Tips by Experts

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Market Outlook
MCX Gold price stop its negative trading now on its way to test 30530 on June contract, after that some correction are expected from down to upside. Crude Mcx price in high demand after testing 4175 level in the previous sessions, this supports to continuation of our bullish overview on the short term and intraday basis, Mcx Copper price negative trading by its stability below the 442.50 resistance level, which is confirming its bearish bias is still working. We will keep waiting for forming new negative momentum.

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Fundamental News

Precious metal prices pushed higher on Monday boosted by the softer dollar and in escalation in trade tensions between the U.S. and China, which underpinned safe haven demand for the Gold.

Crude Oil prices rose on Monday buoyed by a decline in U.S. oil production and heightened tensions between the U.S. and Iran which could lead to a re-imposition of sanctions on Tehran that would hinder oil exports.

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Gold showed sideways to bullish movement and sustaining above level of 30900 now if it continues bullish trend then it can test resistance level of 31098 and if price sustains further then it can test next resistancet level of 31135. On other side 30382 can be major support level.

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Silver showed sideways to bullish movement and sustaining above level of 39000 now if it continues bullish trend then it can test resistance level of 39060 and if price sustains further then it can test next resistancet level of 39499. On other side 38180 can be major support level.

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Crude oil price opens higher shows bullish movement but remain bearish for the end of day. Now if it sustains on lower level then it can test support levels are 4078 and 4015. On the other side resistance level is 4279.

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Copper showed sideways to bullish movement and found the major resistance level of 446.15. Now if price sustains on higher level then it will test next resistance level of 449.15. On other side 434.95 will be major support level.

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