( PR4US.com | Press Release | 2018-08-20 14:44:11 )
The trend of Gold is Bearish. The Dollar currency is getting stronger and reached to its new high level in this week due to concerns over Global Market infirmity. This put a continuous pressure on the gold prices and it has fallen down by almost 10 percent this year. Rising in Interest rate and strong dollar kept pressure on the prices of Gold. In MCX, it fell down by 430 points on weekly basis and ended at 29353 as compared to last week closing price of 29783. Gold prices are trading on weak note, thus we can expect the same momentum in Gold prices in upcoming day. Sell on high strategy would be better to follow for next week.
Resistance & Support
The Crude oil can remain sideways with negative bias. Crude oil is fallen down due to concerns over the slow economic growth that could affect the demand of petroleum products. Inventories are also getting higher which put more pressure on the prices of Crude oil at the up side. In MCX, Crude oil prices ended lower by 69 points and ended at 4605 as compare to the last week closing price of 4674. Sell on high strategy would be better to follow in Crude oil in coming days.
Resistance & Support
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