Today Live MCX Market Updates | MCX Tips

Market Outlook

MCX Gold price begins the attempts to breach 30750 level and moves above it now, these factors makes us suggest the bullish bias in the upcoming sessions, Oil price settles near 5060 barrier after the decline that it witnessed yesterday, these factors encourage us to continues suggesting the bullish trend in the upcoming sessions. MCX Copper price hinted keeping the bullish bias domination by providing clear stability above 2.7100 level, to increase the chances of moving towards 453 resistance, the continuous positive pressures might push the price to breach the current resistance.

Fundamental News

On Friday Gold prices gained & are set to record its first weekly gain in four, while the dollar also traded higher although it is still hovering near two-month lows.

Crude Oil prices were slightly higher on Friday, as supply concerns weighed on investors but were kept down after U.S. President Donald Trump asked the Organization of the Petroleum Exporting Countries and Russia to lower prices.

Gold showed sideways to bullish movement and found the major resistance level of 30904. Now if price sustains on higher level then it will test next resistance level of 31098. On other side 30485 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 37845. Now if price sustains on higher level then it will test next resistance level of 38159. On other side 37291 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 5195. Now if price sustains on higher level then it will test next resistance level of 5230. On other side 5055 will be major support level.

Copper showed sideways to bullish movement and found the major resistance level of 461.50. Now if price sustains on higher level then it will test next resistance level of 467.65. On other side 439.50 will be major support level.

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