Trade in Gold With Ease | Mcx Trading Tips

Market Outlook

MCX Gold price ended last week below 32100, which puts the price under expected negative pressure in the upcoming period, we expect the continuation of the bearish bias in the upcoming sessions, Oil price confirmed breaching 3800 level, which supports the expectations of achieving more gains in the upcoming period, MCX Copper price hinted keeping the bullish attempts by settling above 426 level, while its current fluctuation around the first target at 432 reinforces the reasons to resume the bullish correction by attempting to gather new positive momentum and wait to reach 436 in the upcoming period.

Fundamental News

On Monday in Asia Gold prices traded near flat as investors awaited further news on trade talks for signs of a resolution in the U.S.-China dispute. On Monday in Asia Crude Oil prices steadied after official data showed China’s economic slowdown was in line with expectations and not as sharp as some analysts had feared.

GOLD

Gold showed sideways to bearish movement and found the major support level of 31985. Now if price sustains on lower level then it will test next support level of 31820. On other side 32195 will be major resistance level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 38802. Now if price sustains on lower level then it will test next support level of 38500. On other side 39224 will be major resistance level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 3902. Now if price sustains on higher level then it will test next resistance level of 4000. On other side 3838 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 423.50. Now if price sustains on lower level then it will test next support level of 420. On other side 429.60 will be major resistance level.

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