Safe Mcx Tips with Huge Profit 8th July 2019

Market Outlook

MCX Gold price showed bullish movement on Friday and test in psychological resistance level of 35000 but suddenly it took correction from higher levels. For upcoming trading session if price trades below 34500 then again bearish trend will active towards next support level of 34300. MCX Crude oil took quick recovery from lower to higher side after bearish movement and if price maintains above 3950 in next period then it will gives more bullish movement and test next immediate resistance level of 4000. MCX Copper was still volatile but we will keep bearish overview for upcoming session, if price sustains below 435 and below this level it can test next support of 430.

Fundamental News

Gold slid as much as 2% on Friday and was set for its first weekly fall in seven weeks after data showed U.S. jobs growth rebounded strongly in June, which lowered the likelihood of an interest rate cut by the Federal Reserve this month.

Oil prices climbed on Friday, supported by tensions over Iran and a decision by OPEC and its allies to extend an output supply cut deal until next year, but mixed economic data limited the rally.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 35100. Now if price sustains on higher level then it will test next resistance level of 35300. On other side 34200 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 38300. Now if price sustains on higher level then it will test next resistance level of 38700. On other side 37600 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3990. Now if price sustains on higher level then it will test next resistance level of 4080. On other side 3830 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 435. Now if price sustains on lower level then it will test next support level of 430. On other side 442 will be major resistance level.

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