Beneficial Trading Tips on MCX Market

 

 Market Outlook

MCX Gold price confirmed breaking 31350 level after closing the daily candlestick below it, which supports the continuation of our bearish overview efficiently in the upcoming period, oil price’s decline stopped at 5420 areas yesterday, to rebound upwards clearly and return to the main bullish channel again, which stops the correctional bearish scenario and push the price back to the main bullish track, MCX Copper price repeated its negative fluctuation below the initial resistance at 465, confirming its readiness to record more of the negative targets in the near and medium period.

Fundamental News

 On Tuesday Gold prices inched up while the dollar remained largely unchanged following reports that the International Monetary Fund (IMF) cuts its global economic growth forecasts for 2018 and 2019.

On Tuesday Alexander Novak the Russian Energy Minister said that comments and social media posts on Twitter by the U.S. leadership caused confusion on global markets.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 31400. Now if price sustains on higher level then it will test next resistance level of 31531. On other side 31231 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 38788. Now if price sustains on higher level then it will test next resistance level of 39100. On other side 38405 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 5600. Now if price sustains on higher level then it will test next resistance level of 5669. On other side 5488 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 463.40. Now if price sustains on higher level then it will test next resistance level of 469.35. On other side 454.90 will be major support level.

(Click to submit your details) Just one step to get best trading tips and Recommendation

admin

Leave a Reply