Key levels: 47948 - 49290
Gold is rejecting uptrend and downtrend at the level of 47948 . And we don't see a powerful movement in the 2021 year, wherein it throwout the level of 49280 successfully.
Here, you will have a strong support level, wherein we may decide about buying or selling. And it is the level of 47948 . Intraday traders can keep buying the...
Gold has started collapsing nonstop after Nonfarm Payrolls data. And it stopped at my ' tested many times ' level. XAUUSD has recovered 50% almost in the previous week.
The gold spot needs to break the 1793.6 level to start an uptrend. Afterward, it will go for 1806 - 1826 levels. And these levels can push the gold price up to 1900 .
But if gold breaks...
Key level: 62110
On 6 June 2021, I had drawn a chart of silver ( ). Wherein, I've shown the silver can collapse up to 0.618 . It has made a low of 62184 and touched 0.618 levels of retracement.
If MCX silver crossover and close below the level of 62110 , it will...
Crude oil has broken March 2020 support trendline today. That is indicating a direct sell signal. If crude crossover & closes above to 5160 levels, then it can come out from the downtrend. And we may see 5300 - 5500 again.
According to the current breakout, MCX crude oil may hit the following levels: 4800 - 4760 - 4660 - 4590
On 16 July, gold has crashed over 60$ during the FOMC event. At that time, Commodity Futures Trading Commission (CFTC) data was highlighting selling pressure.
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Weekly outlook of Gold Spot -
Key levels: 1793.6 and 1783.6
According to my previous newsletter, my gold key levels will remain the same. It's not sellable until breakout the 1766 (strong support).
How I trade -
Buy at support or WAIT once thee buy entry has been broke . If support breaks more than 15 pips than ride that SELL ENTRY to TPs (Take Profit) 1-3. Trail stop 15-20 pips behind each TP. Same thing at resistance, sell or WAIT and sell once thee SELL ENTRY has broke. but if broken by 15 pips then enter the buy and ride to TPS 1-3. Each TP is a...
Crude oil is forming Ascending Triangle Pattern. According to the monthly chart and chart pattern analysis, the crude oil rally will not stop here. It will keep moving forward for levels of 5160 - 5300 - 5600+ .
MCX crude oil target for intraday traders is 5112 level.
This is MCX Nickel weekly chart. Price projection is based on Parabolic Curve & Fib Retracement.
As mentioned in the chart, At the end-point of Base 3, indicated by the "X" symbol, the nickel could double in the shortest period of time. Targets: 1426 - 1632 - 1778 - 1854 - 1962 ( 2.618 - Based on Fib Retracement ).
If nickel breaks the curve line, it can...
According to the date range on MCX Silver daily chart, it's changing the trend after every 46 bars.
If silver does not crossover 88.60% of fib retracement before completing 46 bars, we may expect a downtrend ahead. It can collapse up to 61000 to 55765 .
Here, targets for intraday traders: 67500 - 65600 - 63660 .
Or if it breaks the 88.60% , then silver...
The crude oil started the bullish Elliott wave on the 4-hour timeframe. A new low, followed by a three-wave recovery to roughly 3760 - 3660 - 3470 can be expected before the uptrend resumes.
If there will be the upside breakout of wave 5 ( Protective Stop: 3980 ), then it's a failure of the Elliott wave pattern. What happens if it breaks wave 5? I will update...
Gold is taking reversal from the strong support (SS) level ( 48635 ). And at present, it's very close to the SS. Can we see a reversal again?
If gold remains above SS, then it can touch the following levels: 49000 - 49200 - 49400
But according to RSI, MA, & DMI, it seems in a downtrend. So, if MCX gold breaks the support level, we may see the following...
The Gold spot started the bearish Elliott wave on the daily timeframe. Right now, it's making the 5th wave. It has to cross 1824 - 1800 - 1776 to complete the fifth wave. The fifth wave will complete around 1690 .
If there will be the upside breakout of wave 4 , then it's a failure of the Elliott wave pattern. And the target for the uptrend will be as...
Currently, AUD/USD is moving upward. It started to rise from the 19th of March 2020 and still moving upside. Right now, It's moving a little downside, and then it will again start to rise. The trend will rise to the following targets 0.7621 - 0.7635 - 0.7641 - 0.7700 - 0.7800 .
But what if it breaks the support and fall?
If it starts to fall by breaking the...
MCX Aluminium has started falling due to Elliott Wave's ABC correction. Expected A is at 100% or 161% retracement of wave 5.
Therefore, it can start rising from here to the level of 164.4 . The day traders can have the advantage of this impulsive ride of B .
According to ABC correction, we may see the Aluminium prices below 161.6 - 159.4 before the weekend.
According to this chart, MCX crude oil is trying to climb upward. It has started upside rally from the beginning of May.
Here, I have applied Volume, DMI, MA, and Fib Retracement to identify the next move. Moving average of 50 & 200 is throwing direct up signals by crossover. And here, ADX is less than 25 but +DI above the -DI. Hence, we have chances to see slow...
In the last two weeks, MCX gold has lost -2003 points. We may see a continued downtrend up to the support line (Range: 49600 - 49200 ). Intraday traders can play between freefall by taking it as a target.
As mentioned in the chart, the double bottom pattern will complete when the price fails to break past the two bottoms and heads back to the...
Silver is growing slowly. According to this chart, silver is trying to move upside from the strong support trendline. It's a potential reversal point based on a support trendline.
Currently, it has broken a strong support trendline. We have chances to see a tail , fakeout , or excess here. That can be up to a hurdle. And the hurdle breakout is a direct sign...