Learn the Basics of MCX Trading & Online Map

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Market Outlook

MCX Gold price fluctuates now, noticing that there are signs of another negative pattern represented by the double top formation that appears on the chart, oil price tests the key support 4930 and keeps its stability above it until now, these factors encourage us to continue suggesting the bullish trend in the upcoming period, MCX Copper price faced strong negative pressures on last Friday, which confirms the price preparation to postpone the bullish attempts and expect suffering more losses.

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Fundamental News

 On Monday Gold prices fell Monday morning in Asia, a day after Chinese President Xi Jinping gave a speech about his government’s determination to engage in economic reforms amid an escalating trade war between Beijing and Washington.

Crude Oil prices dipped on Monday on rising output from OPEC, while looming U.S. sanctions on Iran also remained in focus.

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GOLD

Gold showed sideways to bullish movement and found the major resistance level of 30330. Now if price sustains on higher level then it will test next resistance level of 30515. On other side 30070 will be major support level.

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SILVER

Silver showed sideways to bullish movement and found the major resistance level of 37640. Now if price sustains on higher level then it will test next resistance level of 37873. On other side 37315 will be major support level.

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CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 5018. Now if price sustains on higher level then it will test next resistance level of 5084. On other side 4928 will be major support level.

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COPPER

Copper showed sideways to bearish movement and found the major support level of 421.10. Now if price sustains on lower level then it will test next support level of 417.30. On other side 427.90 will be major resistance level.

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