Gain Higher Profit With Online MCX Tips |04-Nov.

Market Outlook

MCX Gold opened flat with negative bias as well as hovering near resistance but couldn’t break its important resistance of 38650 and tanked. MCX Crude opened flat with positive bias and sustains on higher and breaks the 3870 resiatance level and closed at 3938. If it substance above 3870 level it may see 4000. Major resistance 4120 and support is 3750 of crude. MCX Copper opened flat with bearish note and hovering near support if it breaks may see 431 as support. It is expected to take intraday support around 435 and it may bulls rally till 445.

Fundamental News

Gold futures move higher Thursday, finding modest, haven-related support after a news report says China officials have doubts over prospects for a long-term trade deal with the U.S.

Oil prices came under pressure on Thursday from rising U.S. crude oil stocks and weak factory activity in China. Brent crude futures LCOc1 were down 20 cents at $60.41 a barrel by 1156 GMT, erasing earlier gains. They had dropped by 1.6% on Wednesday and the contract is set for a monthly decline of about 0.6%.

Gold showed bearish movement from major resistance around level of 38650. Now if price sustains on lower level then it will test next support level of 38000. 37500 will be major support level.

Silver showed bearish movement and found support around level of 46300. Now if price sustains on lower level then it will test next support level of 45500. On other side 47300 will be major resistance level.

Crude oil showed bullish movement and found major support around level of 3820. Now if price sustains on higher level then it will test next resistance level of 4000. On other side 3750 will be major support level.

Copper showed flate movement and found major support around level of 435. Now if price sustains on higher level then it will test resistance level of 445. On other side 430 will be major support level.

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