Grow Your Profit With Mcx Trading Tips

Market Outlook

MCX Gold price showed slight positive movement on Thursday and retest  its major resistance level of38150 and if price maintains above 38300 levels in upcoming session then 38500 will act as a next psychological resistance level. MCX Crude oil showed sideways to bullish movement and if price trades above 4100 levels in upcoming trading session then again bullish trend will remain continues up to next resistance level of 4200 and lower side it has immediate support level at 3950. MCX Copper showed sideways movement on Thursday. For upcoming session we will keep bearish overview, if price sustains below 440 levels and after that 435 will be next strong support level.

  

Fundamental News

Gold prices fell marginally on Thursday, lingering around the key $1,500 level, as investors awaited the Federal Reserve chair’s speech at a global central bankers’ conclave for clues on future U.S. interest rate cuts. Oil rose further above $60 a barrel on Thursday, supported by a drop in U.S. crude inventories and OPEC-led supply cuts, although worries about the global economy weighed.

   

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 38250. Now if price sustains on higher level then it will test next resistance level of 38400. On other side 37900 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 44100. Now if price sustains on higher level then it will test next resistance level of 44400. On other side 43600 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4080. Now if price sustains on higher level then it will test next resistance level of 4150. On other side 3930 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 442. Now if price sustains on lower level then it will test next support level of 438. On other side 449 will be major resistance level.

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

admin

Leave a Reply