Profitable Analysed Report of MCX Trading

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Market Outlook
MCX Gold price opens today’s trading with bullish bias after 30950 level proved its strength against the strong decline that it witnessed yesterday, oil price tested the key support 4310 yesterday and bounced bullishly to settle above 4360 now, which keeps the bullish trend scenario valid and active until now, waiting to visit 4465 level as a next station.MCX Copper price forced to form some sideways trading by its fluctuating near the level 447 reminding you that the stability of the support level at 3.0400 supports renewing the bullish attempts, to wait for gathering new positive momentum.2

Fundamental News

Precious metal prices edged up on Friday, with the ongoing tension over Syria cited as supportive for the yellow metal.

Oil prices settled at three-year highs amid ongoing expectations that geopolitical tensions in the Middle East could add a possible ‘fear premium’ to oil, while continued OPEC cuts supported sentiment.

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Gold prices open high today and made low of 30870 but recover on later half of the day. Now if price sustains on higher levels then it can test resistance level of 31328 and 31562. On other side 30870 will be major support level. 5

Silver prices open high today and made low of 38570 but recover on later half of the day. Now if price sustains on higher levels then it can test resistance level of 39105 and 39459. On other side 38570 will be major support level. 6

Crude oil price opens higher shows some consolidation but overall remain bullish on charts. Now if it sustains on higher level than it can test resistance levels are 4419 and 4458. On the other side 4349 is support level. 7

Copper open near to previous day’s low and continue its bearish trend but recover at later half of the day. On upper side it has resistance level of 445.70 and 453.70. On down side it has support level of 439.30. 8

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