Will zinc return at a strong support trendline?Zinc took a bounce back from the lower levels yesterday, and it has failed to break last week's low level of 212.1 . Intraday traders can initiate long positions for levels of 219.6 - 220 .
If it breaks last week's low, we may see 210 - 208.6 levels. Overall, it's positive. Long positions can be initiate with targets at 221.6 - 224 - 230 in extension.
The DMI & MA is bullish and calls for further advance.
Commodity
Nickel's Strong Buy Signal for Short-TermAccording to this chart, nickel is further advance. Once it breaks the hurdle, it will start marching for 1260 - 1280 - 1300 levels.
Hurdle: 1236
Whenever it hits the hurdle level, what will happen? Here, it will act as resistance. We may see reversal up to the support line ( 1212 - 1180 ).
Short-term investors can continue position for the above targets.
Will GOLD Hit the 50000 this Weekend?Overall, MCX gold is collapsing. Look at the chart, if it breaks a low of 48924, we may see freefall up to 48500 - 48360 .
According to 50 MA, gold will try to push the upside. If we see the gold closing price above the second top of the trendline, it will start rising for the levels of 49760 - 50000 .
Here ADX is less than 25 and 200 MA throwing a direct sell signal. Please note the crossing of +DI and -DI before taking a new entry.
MCX Gold Guinea price setting up for a big rallyU.S election result will come soon. Today, we have chances to see solid movements in MCX's bullion sector commodities. And Gold Guinea crossed 50 MA upper side.
Intraday & short-term traders can buy using this strategy to make some money. Targets: 41800 - 42200 - 43000+
If it closes below 50 MA , then don't hold your position in loss. I prefer to exit after it.
Do you want to know about MCX Gold? Go here:
Today, I'm going to update a detailed report on COPPER.
GOLD: short term: Triangle formation for terminal thrustAs per short term view, GOLD is in the last phase of corrective wave-y, which is unfolding as an impulse. Currently the price structure suggests that there is a formation of a triangle & this triangle is being formed as a wave-4. This wave-4 triangle formation often takes place as a preparation of terminal trust and after that the 5th wave of the impulse get started.
As long as GOLD prices are above 1960 level , one should go long for the target zone of 2050/2150/2190.
Invalidation level : 1960
For long term scenario on GOLD: refer to the attached link .
Commodities long term brakeoutcommodities one after other started their bull market.
first and foremost it is gold, commodity king give the brake out, now it making all time highs.
then silver, natural gas, crude oil, zinc, aluminium you name it all are making higher highs.
these bull markets started with supply disruptions because of lockdowns.
but this will further spiral up side because of the inflation cycle.
after long 13 years of bear market in commodities now it started the bull market.
we are yet to witness the bull market in commodities too.
gold setup important level and Shayari !gold currently in a visible uptrend , with support range in 1700 /1689
while hurdle at current level
if current level hold
a sharp upmove cant be denied of 50 /60 $ in gold while downtrend will begin in short duration if breaks 1700 on downside
trade accordingly
All that glitters is pure Gold!Gold gives a fresh breakout
CMP 1762
Target 1810, 1860, 1890
Stoploss 1734 dclbs
Timeframe 30 trading sessions