Mcx Market Investing Tips for Beginners| Mcx Tips

Market Outlook

MCX Gold price broke its major resistance level of 33500 and showed strong bullish movement and if price breach 34000 in upcoming session then we expect more upward side movement up to next immediate resistance level of 34200. MCX Crude oil price also rose and broke its resistance of 3800 and if price trades above 3950 in next period then we will again keep bullish overview up to next resistance level of 4000 and lower side it has initial support at 3850. MCX Copper price also opens with positive vibrations and broke 415 levels. For upcoming trading session, if price manages above 420 then again bullish bias will active up to next intraday resistance level of 425.

Fundamental News

Gold prices surged 2% to their highest in more than five years on Thursday after the U.S. Federal Reserve signalled possible interest rate cuts later this year, sending the dollar lower and U.S. Treasury yields plunging.

Oil jumped more than 3% to above $63 a barrel on Thursday after Iran shot down a U.S. military drone, raising fears of a military confrontation between Tehran and Washington.

Gold showed sideways to bullish movement and found the major resistance level of 34100. Now if price sustains on higher level then it will test next resistance level of 34250. On other side 33300 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 38500. Now if price sustains on higher level then it will test next resistance level of 38850. On other side 37300 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4000. Now if price sustains on higher level then it will test next resistance level of 4080. On other side 3800 will be major support level.

Copper showed sideways to bullish movement and found the major resistance level of 420. Now if price sustains on higher level then it will test next resistance level of 425. On other side 413 will be major support level.

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

admin

Leave a Reply