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Market Outlook

Mcx Gold price settles near the main target at 30100, we will continue to suggest the bearish trend in the upcoming sessions, oil price settles below 4920 level, to keep the negative pressure valid on the intraday basis, waiting to resume the bearish bias that target 4630. Noting that breaching 4910 will push the price to test 5020 level initially before determining the next trend clearly. Mcx copper price did not move until this morning, repeating the fluctuation between 425 initial resistance and 416 support line.

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Fundamental News

On Monday gold price bounced back after dipping to a near 2018 low last week as the dollar slipped ahead of the first official dialogue between U.S. President & Russian President Vladimir Putin summit in Helsinki later in the day. On Monday crude prices slipped as concerns about supply disruptions eased and Libyan ports reopened while traders eyed potential supply increases by Russia and other oil producers.

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GOLD

Gold showed sideways to bearish movement and found the major support level of 30000. Now if price sustains on lower level then it will test next support level of 29805. On other side 30225 will be major resistance level.

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SILVER

Silver showed sideways to bearish movement and found the major support level of 38915. Now if price sustains on lower level then it will test next support level of 38432. On other side 39430 will be major resistance level.

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CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 4642. Now if price sustains on lower level then it will test next support level of 4600. On other side 4858 will be major resistance level.

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COPPER

Copper showed sideways to bearish movement and found the major support level of 418.80. Now if price sustains on lower level then it will test next support level of 416. On other side 425.80 will be major resistance level.

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