Gold Showed Bullish Movement and Other MCX News

1

2.0

Market Outlook

Gold prices started the week a touch lower on Monday, hovering around their weakest level in a month, as investors awaited fresh comments from a number of Federal Reserve officials for greater signs on the timing of the next rate hike. Crude oil prices started the week on the back foot on Monday but remained close to their best levels in months amid optimism that the crude market was well on its way towards rebalancing. The base metals are for the most part consolidating after recent gyrations; the exception is nickel where prices are still selling off. Copper prices ran into dip buying on Friday, while the rest are holding up in high ground and look well placed.

2

Fundamental News

The yellow metal suffered its second-straight weekly decline last week after the Federal Reserve signaled that it still intended to deliver another rise in interest rates by the end of the year.

U.S. crude oil production has spiked following the higher output of low-sulfur crude from shale formations since the late-2000s, causing a glut in domestic crude supplies.

3

4

Gold showed bullish movement and found the important resistance level of 30129. Now if it will close above the important resistance level of 30150 then 30500 will act as next resistance level. On the other hand, 29750 will act as a major support level.

5

Silver showed bullish movement and found the important resistance level of 40433. Now if it will close above the important resistance level of 40500 then 41000 will act as next resistance level. On the other hand, 39500 will act as a major support level.

6

Crude showed bullish movement and found the important resistance level of 3397. Now if it will close above the important resistance level of 3400 then 3450 will act as next resistance level. On the other hand, 3300 will act as a major support level.

7

Copper showed bullish movement and found the important resistance level of 425.30. Now if it will close above the important resistance level of 426 then 430 will act as next resistance level. On the other hand, 415 will act as a major support level.

8

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published. Required fields are marked *