MCX Gold is collapsing after making the all-time high of 56191 (swing high). It has created a parallel channel in December. Gold prices are rising here. If gold breaks the dynamic resistance without fakeout, it can touch 5 1000 - 52000 - 52384 levels at the beginning of 2021. And if gold breaks the parallel channel and retracement value of 0.618 , it will...
It's the daily chart of the MCX lead. Here, it has made the bullish Elliott pattern, and the ABC correction was completed on the 24th of December 2020. And right now, it started to move upside as per the rules of the bullish Elliott wave pattern. And it will move upwards till 158.6 - 162 .
MCX Gold Guinea is making a triangle pattern. As per the ADX, the trend is weak and, +DI is above the -DI. That indicates an uptrend ahead. Additionally, 200 MA isn't broken. According to DMI & MA, we have chances to see 40260 - 40500+ levels. But, if you look at the triangle pattern, it seems bearish. We have more chances to see downward (huge selling...
This is MCX Silvermini 15 minutes chart. I have used here moving average, Fibonacci, DMI, and RSI. Fib Levels: T 71496 and B 65664 Silver will try to touch 0.382 ( 67892 ) from here. It will act as resistance. Moreover, there is a 50 MA. If silver breaks both, it will fly from there and touch 68580 levels. Intraday traders can play between it. But if it...
Crudeoil has started an Elliott wave and made the 4th wave, and now it's making a fifth wave. As per the rules of the Elliott wave, the fifth wave will be completed at 61.8% ( 3648 ) or 50% ( 3600 ) of Fibonacci retracement 1+3 . The 2nd wave is 61.8% of the 1st wave, the 3rd wave is (more than) 261.8% of the 2nd wave, and The 4th wave is 38.2% of the 3rd...
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...
According 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.
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...
U.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...