Finding Profitable Gold Trading Tips | Mcx Updates

 

Market Outlook

MCX Gold price shows calm positive trading on its way to resume the expected bullish trend on the intraday basis; the bullish trend scenario will remain valid for the upcoming period supported by the EMA50, conditioned by the price stability above 31900. oil price tested 3680 level and kept its stability above it, as it begins to provide positive trading now, moving away from the mentioned level, which supports the continuation of the expected bullish trend scenario on the intraday and short term basis, MCX Copper price confirmed its affection by the bearish bias domination due to providing new negative close below reaching the 422 level, while the stability of 432 barrier reinforces the negative overview to continue suggesting the bearish trend

Fundamental News

On Tuesday in Asia Gold prices steadied and remained above the $1,300 psychological mark amid renewed China-U.S. tension.On Tuesday in Asia Crude Oil prices steadied after their sharpest one-day fall this year on Monday on fears that growing U.S. supply and a spreading trade war between the U.S. and China could create a new glut.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 32900. Now if price sustains on higher level then it will test next resistance level of 33000. On other side 32545 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 40350. Now if price sustains on higher level then it will test next resistance level of 40600. On other side 39900 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3855. Now if price sustains on higher level then it will test next resistance level of 3930. On other side 3700 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 431.50. Now if price sustains on higher level then it will test next resistance level of 435. On other side 423.30 will be major support level.

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