MCX Gold was bullish on Tuesday and we will continue to suggesting some bullish trend from lower levels, if price sustains below 39200 and below this level this momentum can find next psychological support level at 39000 and higher side it has immediate resistance level at 39800. MCX Crude oil took correction from higher levels and showed blood bath and if price sustains below 3800 levels in upcoming session then again bearish scenario will active towards next support level of 3700. MCX Copper showed slight negative movement and it may give more down side movement, if price sustains below 435 levels and after that 430 will act as a next immediate support level.
World stocks slipped and the dollar strengthened to its highest levels in more than two years on Tuesday as U.S.-China trade tensions drove investors to the relative shelter of gold, the Japanese yen and government debt.
Oil prices fell more than 2% on Tuesday, weighed down by rising OPEC and Russian oil output as well as the protracted U.S.-China trade dispute that has dragged on the global economy.
Gold showed bullish movement and found the major resistance level of 39800. Now if price sustains on lower level then it will test next support level of 39550. On other side 40000 will be major resistance level.
Silver showed sideways to bullish movement and found the major resistance level of 50700. Now if price sustains on lower level then it will test next support level of 49500. On other side 51500 will be major resistance level.
Crude oil showed sideways to bearish movement and found the major support level of 3827. Now if price sustains on higher level then it will test next resistance level of 3920. On other side 3800 will be major support level.
Copper showed sideways to bearish movement and found the major support level of 435.65. Now if price sustains on higher level then it will test next resistance level of 442. On other side 433 will be major support level.
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