Today Commodity MCX Market Trend | MCX Tips

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Market Outlook

Gold price settles around 29700 level, waiting to get enough positive momentum to push the price to breach the mentioned level and open the way to head towards 29800 that represents our next main target. We will continue to suggest the bullish trend in the upcoming sessions. Crude oil price provided strong positive trading after leaning on the bullish trend support, waiting for more rise in the upcoming sessions, as our next main targets located at 3765 and extend to 3800. In spite of the weak trading of Copper price in the last period, but it confirms its affection by the bearish correctional attempts by its stability below 442.50, we will keep waiting for gathering new negative momentum.trading range for today 442-447.

comdex Fundamental News

India’s state-run Mangalore Refinery and Petrochemicals Ltd MRPL.NS have floated its first tender to buy high-sulphur crude oil from the United States, a tender document showed on Monday.

Gold prices drifted lower at the start of a holiday-shortened week on Monday, as investors kept an eye on U.S. tax reform developments. In addition to the minutes, markets will also be watching Fed Chair Janet Yellen, when she speaks in New York on Tuesday evening.

m1 m2 Gold showed sideways to bearish movement and found the major support level of 29350. Now if price sustains on lower level then it will test next support level of 29120. On other side 29730 will be major resistance level.

gold

Silver showed sideways to bearish movement and found the major support level of 39300. Now if price sustains on lower level then it will test next support level of 38900. On other side 40100 will be major resistance level.

silver Crude oil showed sideways to bearish movement and found the major support level of 3620. Now if price sustains on lower level then it will test next support level of 3580. On other side 3720 will be major resistance level.

crude Copper showed sideways to bullish movement and found the major resistance level of 445. Now if price sustains on higher level then it will test next resistance level of 449. On other side 436 will be major support level.

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