Earn Money With Accurate Mcx Trading Tips

Market Outlook

MCX Gold price shows more bearish bias to test 33000 now, reinforcing the expectations of continuing the decline in the upcoming sessions, we are waiting for more decline today unless the price rallied to breach 33500 and hold above it. Oil price shows recovery attempts to approach the key resistance 3920, and as we mentioned today, holding below this level will keep the bearish trend scenario active for the upcoming period. MCX Copper price attempted to take a breath by achieving the target at 452, forming an intraday negative rebound to 456, we expect forming a sideways trading in the near period trading. Expected trading range for today is between 445 and 452.

Fundamental News

The yellow metal is in an all-too-familiar range-bound pattern last seen in December, after a streak of 2019 highs above $1,300. This Week U.S. energy data, worsening Venezuelan production and relentless OPEC cuts are all supporting oil. But Russia, Saudi Arabia’s main ally in rebalancing the market, is adding new worries by dragging its feet on promised supply reductions.

GOLD

Gold showed sideways to bearish movement and found the major support level of 33000. Now if price sustains on lower level then it will test next support level of 32850. On other side 33285 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 39850. Now if price sustains on lower level then it will test next support level of 39500. On other side 40056 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3702. Now if price sustains on lower level then it will test next support level of 3630. On other side 3879 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 446.10. Now if price sustains on lower level then it will test next support level of 442. On other side 450.30 will be major resistance level.

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