Free Indian MCX Trading Tips For Traders

 

Market Outlook

MCX Gold price shows sideways and tight trades in the previous sessions, to remain stable below 31900, which keeps the bearish trend scenario active in the upcoming sessions, oil price shows more bearish bias to gradually approach our waited target at 4520, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, MCX Copper price succeeded to hold within the bullish channel & the negative pressures to increase the chances of gathering the required positive momentum to resume achieving the positive targets.

Fundamental News

 On Monday Gold prices slipped while the dollar was unchanged as traders awaited the U.S. mid-term elections and the Federal Reserve’s November meeting due later this week.

Crude Oil prices dipped on Monday morning in Asia after the U.S. said it would allow eight countries to import crude oil from Iran, easing market jitters over tight supply from Iranian sanctions coming into effect later in the day.

GOLD

Gold showed sideways to bearish movement and found the major support level of 30942. Now if price sustains on lower level then it will test next support level of 30683. On other side 31372 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 36689. Now if price sustains on lower level then it will test next support level of 36423. On other side 37605 will be major resistance level.

CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4297. Now if price sustains on lower level then it will test next support level of 4133. On other side 4423 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 429.70. Now if price sustains on lower level then it will test next support level of 423. On other side 438.20 will be major resistance level.

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