Valuable Mcx Trading Tips With Graphs | Gold Tips 25-Feb-19

 

Market Outlook

MCX Gold was range bounded on Friday it trades in between 33300 to 33500. For next week if price maintains above 33500 then the bullish scenario will active up to next resistance of 33700 and above this level 34000 will be next resistance level. MCX Crude oil broke 4100 level but unable to hold this level and if price opens above 4100 in next session then some positive movement we expect and if it goes down then takes correction from higher levels towards next support level of 4030.MCX Copper showed strong bullish movement and breoke its immediate resistace of 460 and after that 465 will act as a next resistance level on next trading session.

Fundamental News

Gold price jumped on Friday en route to a second weekly gain as the dollar was subdued by weak U.S. economic data and hopes of a breakthrough in the U.S.-China trade dispute, with a darkening global economic outlook bolstering interest in bullion.

Prices of crude oil touched their highest since mid-November on Friday and posted weekly gains for the second week in a row, boosted by hopes that U.S.-China trade talks would soon produce a deal, although new record U.S. oil supply limited gains.

    

GOLD

Gold showed sideways to bullish movement and found the major resistance level of 33560. Now if price sustains on higher level then it will test next resistance level of 33700. On other side 33330 will be major support level.

SILVER

Silver showed sideways to bullish movement and found the major resistance level of 40320. Now if price sustains on higher level then it will test next resistance level of 40550. On other side 40038 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4126. Now if price sustains on higher level then it will test next resistance level of 4200. On other side 4057 will be major support level.

COPPER

Copper showed sideways to bullish movement and found the major resistance level of 463.35. Now if price sustains on higher level then it will test next resistance level of 467. On other side 454.85 will be major support level.

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