Live & Profitable Gold Market Trading Tips

Market Outlook

MCX Gold price shows more tight trading that settles above the EMA50, we will keep our bullish overview unless breaking 30600 level and holding below it, Oil price suffered new strong losses to confirm surpassing our first target at 3920, as the price settles below it, opening the way to head towards our next target at 3740,MCX Copper price extended to the upside, to hit the target at 452, then forms a quick rebound approaching from the initial support at 434, the correctional attempts are caused by stochastic surpass from the overbought level, which made the price lose its positive momentum.

Fundamental News

On Wednesday Gold prices inched up in Asia while the dollar was flat as traders eyed U.S.-China tensions.

On Wednesday Crude Oil prices bounced back in Asia, a day after hitting their lowest point in 2018 after U.S. President Donald Trump said the U.S. remains a “steadfast partner” with Saudi Arabia despite the killing of journalist Jamal Khashoggi.

Gold showed sideways to bullish movement and found the major resistance level of 30895. Now if price sustains on higher level then it will test next resistance level of 30990. On other side 30725 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 37015. Now if price sustains on higher level then it will test next resistance level of 37605. On other side 36516 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 3987. Now if price sustains on higher level then it will test next resistance level of 4118. On other side 3845 will be major support level.

Copper showed sideways to bullish movement and found the major resistance level of 440.95. Now if price sustains on higher level then it will test next resistance level of 447.85. On other side 435.10 will be major support level.

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