Successful Profitable Commodity Trading Tips

Market Outlook

MCX Gold started the week on lower note and sustained below the previous close for most part of the session. Gold December is still facing stiff resistance near 38000 and any closing below the immediate support of 37800 can further weaken the bullion. MCX Crude gradually dragged during the session and sustained below psychological mark of 4000. If it surpasses support of 3900, then chance of further bearish candles are there.  MCX Copper witnessed a up move since the start of the session but it moved very quietly without showing any major moves with a flat to positive note. Any fall below 440 can result in bearishness.

Fundamental News

Gold fell on Monday as uncertainties around the U.S.-China trade war drove some investors to the safety of the dollar, pressuring assets priced in the U.S. currency.

Oil slipped on Monday as China’s economic outlook remained weak even as manufacturing data improved, with an ongoing trade war with the United States weighing on demand growth for the world’s largest crude importer.

GOLD

Gold showed bearish movement and found the major support level of 36832. Now if price sustains on lower level then it will test next support level of 36200. On other side 37500 will be major resistance level.

SILVER

Silver showed bearish movement and found the major support level of 43900. Now if price sustains on lower level then it will test next support level of 43000. On other side 45000 will be major resistance level.

CRUDE

Crude oil showed bearish movement and found the major support level of 3869. Now if price sustains on higher level then it will test next resistance level of 4000. On other side 3850 will be major support level.

COPPER

Copper showed bearish movement and found the major support level of 438.25. Now if price sustains on higher level then it will test next resistance level of 442. On other side 435 will be major support level.

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