MCX Tips For Extreme Profit Earning

Market Outlook

MCX Gold price took quick recovery from lower level after sharp downfall and if price manages above 32100 in upcoming session then again bullish trend will active as well as it can test next important resistance of 32300. MCX Crude oil showed bullish movement on Friday and we will again continue with upward trend up to next resistance of 4550 and after that 4600 will act as a next resistance level. MCX Copper also took recovery from lower levels and test its immediate resistance of 450 and if price manages above 455 in next period then it can find new resistance at 460 and lower side 440 will be major support level.

Fundamental News

A weaker dollar helped gold prices to steady on Friday, after bullion fell more than 1 percent in the previous session, and the metal was heading for its first weekly gain in three weeks on dovish central banks and tumultuous stock markets.

Prices of Crude oil rose on Friday as involuntary supply cuts from Venezuela, Libya and Iran supported perceptions of a tightening market, already underpinned by a production reduction deal from OPEC and its allies.       

 

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 32000. Now if price sustains on higher level then it will test next resistance level of 32150. On other side 31800 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 37500. Now if price sustains on higher level then it will test next resistance level of 37800. On other side 37000 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4480. Now if price sustains on higher level then it will test next resistance level of 4550. On other side 4390 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 452. Now if price sustains on higher level then it will test next resistance level of 456. On other side 443 will be major support level.

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