New Updation of Mcx Trading Tips

Market Outlook

MCX Gold price was quite volatile and if price manages above 32850 in upcoming session then again bullish scenario will active up to next resistance level of 33000. MCX Crude oil took quick recovery from lower to higher side after sharp downfall. For upcoming period it may give more upward side movement and test immediate resistance of 3850 and lower side it has major support level at 3650. MCX Copper was range bounded and price moves in between 400-410 and if price continues with bearish trend then this momentum can find initial support level of 400 and higher side it has resistance at 415.

Fundamental News

Gold prices skidded 1% on Monday, retreating from a 14-month peak hit in the previous session after an agreement between the United States and Mexico to avert a tariff war crimped safe-haven demand for the metal.

Oil prices were steady on Monday as U.S.-China trade tensions continued to threaten demand for oil, but tight crude supply and the swift end to a trade dispute between Mexico and the United States offered support.

Gold showed sideways to bearish movement and found the major support level of 32600. Now if price sustains on lower level then it will test next support level of 32450. On other side 32850 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 36500. Now if price sustains on lower level then it will test next support level of 36200. On other side 37300 will be major resistance level.

Crude oil showed sideways to bullish movement and found the major resistance level of 3800. Now if price sustains on higher level then it will test next resistance level of 3875. On other side 3720 will be major support level.

Copper showed sideways to bullish movement and found the major resistance level of 411. Now if price sustains on higher level then it will test next resistance level of 416. On other side 405 will be major support level.

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