MCX Trading Tips For All Traders & Investors

Market Outlook

MCX Gold price fell from higher levels and test its major support level of 34650 but suddenly it took reverse movement from support and also took quick recovery and if price manages above 34900 in upcoming session then this momentum can take price up to next resistance level of 35100. MCX Crude oil showed slight positive movement and we will continue to suggesting bullish overview for upcoming trading session, if price breaks 4050 levels and lower side it has immediate support at 39500. MCX Copper showed strong bearish movement on Tuesday after yesterday’s bullish movement and if price sustains below 445 then again downward trend will active.

Fundamental News

Gold prices ticked down on Tuesday as the dollar rose to a two-month high, while investors awaited the outcome of a two-day U.S. Federal Reserve policy meeting expected to result in a cut in interest rates.

Oil prices rose for a fourth day on Tuesday on optimism the U.S. Federal Reserve will this week cut interest rates for the first time in more than 10 years, supporting fuel consumption in the world’s biggest oil user.

Gold showed sideways to bearish movement and found the major support level of 34250. Now if price sustains on lower level then it will test next support level of 34100. On other side 34800 will be major resistance level.

Silver showed sideways to bullish movement and found the major resistance level of 41600. Now if price sustains on higher level then it will test next resistance level of 41900. On other side 41100 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 3910 will be major support level.

Copper showed sideways to bearish movement and found the major support level of 443. Now if price sustains on lower level then it will test next support level of 438. On other side 453 will be major resistance level.

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