Financial Updates and Data of Mcx Market

  Market Outlook

MCX Gold price crawls upwards gradually to approach testing 30950 level again, our bearish overview will remain active unless breaching 30950 level and holding above it. Oil price keeps rallying by today’s opening to succeed reaching our waited target at 5180, getting continuous positive support & the bullish trend will remain suggested in the upcoming sessions. MCX Copper price hinted keeping the bullish bias domination by providing clear stability above 433 level, the continuous positive pressures might push the price to breach the current resistance.

Fundamental News

On Thursday Gold prices traded higher, after rising in the previous session, as the dollar weakened amid easing trade concerns between the U.S. and China. On Thursday Crude Oil prices climbed on Thursday morning in Asia as data from the Energy Information Administration (EIA) showed U.S. crude inventories fell to a 3.5-year low in the week of Sept. 14.

GOLD

Gold showed sideways to bearish movement and found the major support level of 30562. Now if price sustains on lower level then it will test next support level of 30410. On other side 30670 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 37200. Now if price sustains on lower level then it will test next support level of 36910. On other side 37390 will be major resistance level.

 

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 5063. Now if price sustains on lower level then it will test next support level of 5000. On other side 5095 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 434.80. Now if price sustains on lower level then it will test next support level of 428. On other side 438.95 will be major resistance level.

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