Today’s MCX Market News and Free Calls

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Market Outlook

Gold price settles around the intraday bearish resistance that stops the price positive attempts and keeps the bearish trend, we will continue to suggest the bearish trend in the upcoming sessions, Crude oil price hovers around 3513 levels since yesterday. Supports the chances of resuming the bullish trend in the upcoming sessions, getting continuous positive support. We will continue to suggest the bullish trend on the intraday and short-term basis.Today’s expiry date of all metals; The Zinc is in a perfect uptrend with 2.45% on expiry. Lead with 0.71%, Aluminium in a downtrend with -0.18%, Nickel in with 1.37% on expiry.

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Fundamental News

Gold prices fell in Asia on Tuesday as China showed a dip in a key PMI survey, raising questions about demand prospects as non-manufacturing also fell.

Oil prices registered modest losses on Tuesday on the last trading day of the month but were still on track for gains of more than 4% during October as investors took profit ahead of weekly inventory data.

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Gold showed sideways to bearish movement and found the support level of 29100 and upside it took resistance level of 29400. Now if price sustains below 29100 then 29005 will act as a next support level and up-side 29520 will act as a next resistance level.

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Silver showed sideways to bearish movement and found the major support level of 38700. Now if price sustains lower level then it will test next support level of 38450. On another side, 38700 will be major resistance level.

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Crude oil showed sideways to bullish movement and found the major resistance level of 3525. Now if price sustains on a higher level then it will test next resistance level of 3565. On another side, 3490 will be a major support level.

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Copper showed sideways to bearish movement and found the major support level of 442. Now if price sustains on a lower level then it will test next support level of 438. On another side, 450 will be major resistance level.

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