As per my analysis, NSE:MCX is indicating reversal. My idea is to take buy entry at level of 1365 with stop loss of 1330. My expected upside target would be 1385 & 1465.
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
In our previous article, we discussed impulsive wave C and its continuation. On 20 January 2023 , Price achieved our all given targets.
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Timeframe :
MCX Natural gas has accomplished the corrective wave B and started falling for impulsive wave C. Price has given a reversal from previous wave C,...
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...
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 try to hit 60000 - 58900 - 57260 levels.
Otherwise, it will take a bounce back from here...
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.
Was That the Top in Crude oil?
Crude oil price is running nearby a 78.60% retracement level, and it can act as support. Hence, trade with the trend: sell positions executed around 78.60% retracement level area for the targets of 2660 – 2600 – 2560 – 2500.
For long-term investors: they can hold for 2410 – 2320 levels.
Don’t sell crude oil above the ...
As per the above chart, the parallel channel’s uptrend line can use as a stop loss.
Hurdle: 162.6
Based on the current trend:
Uptrend targets: 165 – 170+
Based on Fib. Retracement:
Downtrend targets: 158.2 – 152.2 – 149.2
As per the following chart, MCX natural gas is under downtrend for a short period. Without fake-out, commodity natural gas prices may drop for 118 - 116 levels below.
How about E? If its price remains above to the support, we will see 126.6 - 128+ soon.
