Profitable Mcx Trading Tips

     

Market Outlook

MCX Gold price took quick recovery from lower to higher side after downfall and also test major resistance of 31800. For upcoming session we will keep bullish overview if price trades above 31850 and lower side it has strong support at 31600. MCX Crude oil again slips and unable to maintains above 4100 levels and for next period it shows more bearishness as well as it can test next important support level of 3950. MCX Copper showed strong down side movement and retest 415 levels and if price trades below 410 levels in upcoming session then again bearish bias will active towards next support level of 400 and upper side it has immediate resistance at 420.

Fundamental News

Gold held steady on Wednesday as worries about the global economic outlook kept investors focused on safe-haven assets, with no signs of an easing in the Sino-U.S. trade-war. Oil prices fell more than 2% on Wednesday as China signalled it would use the rare earths card in its trade war with the United States, stoking concerns that an ongoing stand-off could hurt crude demand.

Important Data

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 31900. Now if price sustains on higher level then it will test next resistance level of 32050. On other side 31550 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 36400. Now if price sustains on higher level then it will test next resistance level of 36700. On other side 36000 will be major support level.

 CRUDE

Crude oil showed sideways to bearish movement and found the major support level of 3980. Now if price sustains on lower level then it will test next support level of 3900. On other side 4130 will be major resistance level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 411. Now if price sustains on lower level then it will test next support level of 407. On other side 417 will be major resistance level.

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