Finding Top Highlights of Daily Mcx Market

 

Market Outlook

MCX Gold price begins today’s trading with clear positivity to attack the correctional bullish channel’s resistance and attempts to hold above it, oil price settles below 3120 barrel after the decline that it witnessed in the previous sessions, moving within bearish channel that supports the expectations of continuing the bearish trend in the upcoming period, MCX Copper price gained some firm momentum, to notice its rally towards testing the broken support at 424, while the upcoming scenario depends on the stability of this barrier.

Fundamental News

On Tuesday President Donald Trump said that a government shutdown could last until his demand for funds to build a U.S.-Mexico border is met. On Wednesday Crude Oil prices were mixed as the U.S. standard rebounded from steep losses in the previous session, even though concern over the health of the global economy continued to overshadow the market.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 31740. Now if price sustains on higher level then it will test next resistance level of 31850. On other side 31470 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 38500. Now if price sustains on higher level then it will test next resistance level of 38850. On other side 38100 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3259. Now if price sustains on higher level then it will test next resistance level of 3350. On other side 2959 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 424.40. Now if price sustains on higher level then it will test next resistance level of 428. On other side 411.80 will be major support level.

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