MCX Gold opened flat with negative bias and traded in previous day range. It again resisted near 38050 and fall from there as well as sustain in lower level if break it test level of 37650 as support. MCX Crude opened with flat note with negative bias and sustain on lower level if it sustain above 3850 may see 4000 as resistance. Major support 3750 is seen as the key support for it whereas 4100 is seen as major resistance. MCX Copper opened flat with bearish note and hovering near resistance if it breaks may see 445 as resistance. It is expected to take intraday support around 440.
Gold futures are trading lower on Tuesday after posting a steep decline in yesterday’s session. The major events driving the price action are dampened concerns over Brexit and increasing optimism over U.S.-China Trade relations. Crude oil prices fell to their lowest in nearly a week after Russian deputy energy minister Pavel Sorokin said it was still too early to commit to additional measures to stabilize a market haunted by the threat of oversupply.
Gold showed bearish movement and found major support around level of. Now if price sustains on lower level then it will test next support level of 37500. On other side 38300 will be major resistance level.
Silver showed bullish movement and found major resistance around level of 46180. Now if price sustains on lower level then it will test next support level of 45500. On other side 46800 will be major resistance level.
Crude oil showed bullish movement and found major resistance around level of 3964. Now if price sustains on higher level then it will test next resistance level of 4050. On other side 3850 will be major support level.
Crude oil showed bullish movement and found major resistance around level of 443.75. Now if price sustains on higher level then it will test next resistance level of 447. On other side 440 will be major support level.
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