Copper has broken March 2020 resistance trendline, and true resistance breakout is a clear signal to buy. Target prices for long-term traders: 760 - 800+
But at present, MCX copper can pullback to the previous resistance line to continue an uptrend. So, intraday traders can sell for the following targets: 690 -...
First, wait for a clear Ascending triangle form. Right now, MCX Mentha oil at the support trendline (rising lower trendline). It will try to hit 964 - 986 - 1000 - 1020 levels from here. Intraday traders can go with the current trend.
But don't buy below the support trendline.
(COMEX) GOLD SPOT started to make the bearish Elliott wave. After making the 3rd wave, it started to make the 4th wave. It may see 1970+
The trend will fall again after a particular level around 1965 , to make the 5th wave. And after taking a reversal, it will fall up to the dynamic support. After the breakout of the dynamic support, it will hit 1900 - 1886...
MCX Gold Guinea is following a parallel channel since August 2020. Recently, it has touched the support trendline and started moving forward. Will it keep moving? How much? It will keep running for 37600 - 38000 levels.
But according to MA, Gold Guinea should keep falling. And for the following levels: 36800 - 36400 - 36000
On the Daily Chart copper is looking strong and also it has shown small profit booking in the morning session now if it will shift above 644.50 then it may go upside till 647 and 652. Low risk trader can go long above 644.50 with stop loss of 642.20 and safe stop loss will be day's low 641.50.
Here's the daily chart of the MCX SILVER. It started to rise from the 18th of March 2020. But currently, it's moving downside. It's a short time fall. After the particular level, it will start to move upside again. It may fall up to the support. And from that point, there will be a reversal in the trend. Targets for the future upside movement of the trend are the...
MCX Aluminium is moving sharply. Its range is 21 to 23 bars or a month. It can fall back up to the support trendline ( TP: 159 - 156 ).
According to this chart, aluminum will not stop here. It is further advance up to 168 - 172 - 176 levels.
COMEX silver spot is moving sideways with the fluctuation on the 15m timeframe. It started with the descending peaks and after that made three ascending peaks. Then fall again and made a descending peak. Right now, making a descending peak again, and targets are followings $26.460 - $26.430 - $26.360 . It will make more descending peaks and fall up to $ 26.260 .
Copper has made the Bullish Elliott wave on the daily timeframe. It's completed the five-wave cycle, ABC correction is remaining. After the 5th wave, the trend started to make the A, and it's still making it. It has to cross 585 - 580 - 560 . After that, It will rise for a short period to make the B. And it will fall again to make C. But all over, it's an uptrend.
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 .
Here's the daily chart of the MCX zinc. It has made two Elliott waves. The first one is bearish, and the second one is bullish. The bearish was started from the 11th of April 2019 and ended on the 19th of March 2020. The bullish one started on the 19th of March 2020, and the fifth wave of this Elliott wave is remaining. In the Elliott wave theory, each wave has...
According to this chart, nickel is further advance. Once it breaks the hurdle, it will start marching for 1260 - 1280 - 1300 levels.
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.
MCX Copper is playing under a parallel channel. Currently, it's at the support trendline. Additionally, there's a Fibonacci retracement value of 0.886 .
The best trading strategy for the day traders is:
According to a moving average and parallel channel's support trendline, copper is strongly bullish. It can show us an all-time new high before the end of this...
As per the chart, keep your eyes on the Aluminium-bull resistance line. We may see prices at 143 - 144.6 or above soon.
This rally will stop after breaking out the resistance line . So what's next then? You can take fib levels as targets.
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