Safe Trading With Daily Beneficial Mcx Data

Market Outlook

MCX Gold showed strong bullish movement on Wednesday and the main positive scenario still valid for upcoming session up to next resistance level of 39400 and lower side it has immediate support at 38800. MCX Crude oil price rose and trades above 4000 levels and we will continue to suggesting bullish bias for upcoming trading session up to next important resistance level of 4100 and if price goes down side then it can test major support level of 3900. MCX Copper price showed slight positive movement and if price manages above 450 levels in next period  then this momentum can find next resistance of 455 and lower side it has immediate support at 438.

Fundamental News

Gold eased on Wednesday, after rising over 1% in the previous session on fears of a possible recession, but held close to a more than six-year high on hopes of a rate cut by the U.S. central bank and uncertainties around the Sino-U.S. trade talks. Oil prices rose on Wenesday after industry data showing a fall in stockpiles of U.S. crude somewhat eased worries about subdued demand due to the China-U.S. trade war.

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 39300. Now if price sustains on higher level then it will test next resistance level of 39500. On other side 38800 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 47100. Now if price sustains on higher level then it will test next resistance level of 47500. On other side 45700 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4100. Now if price sustains on higher level then it will test next resistance level of 4180. On other side 3920 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 448. Now if price sustains on higher level then it will test next resistance level of 453. On other side 441 will be major support level.

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