Today’s MCX Report with Profitable Tips

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Market Outlook
MCX Gold price shows some bullish bias after touching our waited target at 30865 level, it might head to test the key resistance 31170 in the upcoming sessions, oil price suffered sharp losses yesterday to break 4520 level and approaches the first correctional level at 4420, we believe that the chances are valid to provide more positive trading in the upcoming sessions, MCX Copper price succeeded to face the negative pressures and provide new positive close above the 450 level, trading range for today is between 458 and 450.2

Fundamental News

Yellow metal prices rebounded from two-month lows on Wednesday as the dollar pulled away from multi-month highs amid profit taking ahead of the conclusion of the Federal Reserve policy meeting later in the day.

Amid forecasts for an oil-stock increase of 739,000 barrels, The U.S. Energy Information Administration will release its official weekly oil supplies report for the week ended April 27 at 10:30AM ET (1430GMT).

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Gold showed sideways to bullish movement and found the major resistance level of 31070. Now if price sustains on higher level then it will test next resistance level of 31190. On other side 30865 will be major support level. 5

Silver showed sideways to bullish movement and found the major resistance level of 39720. Now if price sustains on higher level then it will test next resistance level of 39960. On other side 39200 will be major support level.
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Crude oil showed sideways to bullish movement and found the major resistance level of 4566. Now if price sustains on higher level then it will test next resistance level of 4610. On other side 4465 will be major support level. 7

Copper showed sideways to bullish movement and found the major resistance level of 457.50. Now if price sustains on higher level then it will test next resistance level of 465.50. On other side 451.50 will be major support level. 8

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