Online MCX Tips and Free Calls

1

2.0

Market Outlook

Gold prices rallied to their highest level in almost ten months on Tuesday, as investors piled into safe-haven assets after North Korea fired a missile that passed over northern Japan. Geopolitical risks can boost demand for safe-haven assets such as gold which is considered a good store of value during volatility in other markets. Crude prices dipped on Tuesday as the market grappled with the shutdown of some 13 percent of refining capacity in the United States after a hurricane ripped through the heart of the country’s oil industry.

2

Fundamental News

Gold prices raced to a nearly 10-month high on Monday, buoyed by a sixteen-month slump in the dollar as investor expectations of an additional rate hike continued to fade, following Fed chair Janet Yellen’s decision to sidestep monetary policy.

U.S. fuel prices continue to rise as more Gulf Coast refiners cut output, leaving more than 13% of the country’s refining capacity offline. Gasoline for September delivery climbed as much as 2.77 cents to $1.74 a gallon, while crude prices dipped slightly to $46.50/bbl.

3

Gold showed bullish movement and found the important resistance level of 29937. Now if it will close above the important resistance level of 30000 then 30300 will act as next resistance level. On the other hand, 29200 will act as a major support level.

4

Silver showed bullish movement and found the important resistance level of 40275. Now if it will close above the important resistance level of 40300 then 40800 will act as next resistance level. On the other hand, 39000 will act as a major support level.

5

Crude showed bearish movement and found the important support level of 2935. Now if it will close below the important support level of 2930 then 2900 will act as next support level. On the other hand 3050 will act as a major resistance level.

6

Copper showed bullish movement and found the important resistance level of 436.25. Now if it will close above the important resistance level of 437 then 440 will act as next resistance level. On the other hand, 425 will act as a major support level.

7

8

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

Leave a Reply

Your email address will not be published. Required fields are marked *