Market Outlook

MCX Gold price continues to fluctuate between 32000 support and 32200 resistance, falling under continuous negative pressure that comes by the EMA50, waiting to motivate the price to break the mentioned support and get negative motive that confirms resuming the expected bearish trend on the intraday basis, Oil price opens today’s trading with bullish bias to approach the key resistance 3900, after breaching this level will form strong positive motive that supports the chances of achieving more gains on the short term basis, our bullish overview will remain valid for the upcoming period. MCX Copper price continuous fluctuation below the main resistance 424 supports the negative overview for the near term and medium term trading, while the price needs to break the initial support at 416 to open the way to achieve more negative targets.

Fundamental News

 On Friday in Asia Gold prices inched up as traders await the upcoming Sino-U.S. trade talks scheduled for next week.

On Friday in Asia Crude Oil prices advanced following reports that the Trump administration was considering sanctions against Venezuelan oil.

Gold showed sideways to bullish movement and found the major resistance level of 32382. Now if price sustains on higher level then it will test next resistance level of 32500. On other side 32009 will be major support level.

Silver showed sideways to bullish movement and found the major resistance level of 39695. Now if price sustains on higher level then it will test next resistance level of 40000. On other side 38950 will be major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 3842. Now if price sustains on higher level then it will test next resistance level of 3920. On other side 3776 will be major support level.

Copper showed sideways to bullish movement and found the major resistance level of 427.85. Now if price sustains on higher level then it will test next resistance level of 432. On other side 417.85 will be major support level.

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Market Outlook MCX Gold price continues to fluctuate between 32000 support and 32200 resistance, falling under continuous negative pressure that comes by the EMA50, waiting to motivate the price to break the mentioned support and get negative motive that confirms resuming the expected bearish trend on the intraday basis,...
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