Commoditytrading
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.
MCX Natural Gas Long-Term Outlook - Target 300+According to this chart, MCX Natural gas is further advance. We may see the following levels after a reversal.
Targets: 234.6 - 263.9 - 305.6
Intraday traders can run with 20 & 50 MA crossover. And long-term traders should stick with 200 MA to maximize profits.
Significant releases or events that may affect the movement of natural gas on Wednesday, Oct 28, 2020 :
02:00: U.S. API Weekly Crude Stock
20:00: U.S. Crude Oil Inventories
20:00: EIA Weekly Refinery Crude Runs
20:00: U.S. Crude Oil Imports
20:00: U.S. Cushing Crude Oil Inventories
20:00: U.S. Gasoline Production
20:00: U.S. Heating Oil Stockpiles
20:00: U.S. Gasoline Inventories
GOLD may rise make profitsGold may rise because ,
It has broken the resistance and even the trendline ,
It looks very strong to buy .
Entry : 1929
Target : 1973/1991/2012
Stop loss : 1912
GOLD : YELLOW PRECIOUS METAL : DOING EXPANDED FLAT CORRECTIONLong ago a surge in GOLD price rally stopped in the year 2011 & the point has been designated as a primary wave-5 by all the elliottician. From that level we have seen a correction upto the level of 1045 $. A nice corrective move.Right from that level GOLD price raised up & currently trading in a all time new highs range. But this rally from the lows 1045$ is looking more corrective than an impulse. As per the current price structure we can assume that GOLD price is forming an EXPANDED FLAT CORRECTIVE pattern. And currently we are in the last phase of WAVE-B (circle). The wave-B (circle) is unfolding in a 3 wave corrective structure as w-x-y pattern. We are in the last phase wave-y which often takes place as an impulse rally which is discussed in the short term view over GOLD. The link is attached to this idea for the short term view.
GOLD XAUUSD WEEKLY ANALYSISLast week , it ends up with the sideways movement , and it passed up over resistance line, If that resistance line turn into support .. then the Gold going to see the new high during this week. Analysis made based on pure price action.. not fundamentals
Gold - Study - Buy on dips upto 1492Gold has been in major uptrend, there is strong support at 1492 zone, Now Gold will be buy on dips upto 1492. Keep stop at 1430.
copper to resume downtrendcomplete loss of demand after upthrust, this was essentially a redistribution and currently in markdown
will retest broken down levels before resuming downtrend..
also watchout for a upthrust to 2.6070 test and then accelerate breakdown..
Pockets are Full of $$$$. Will Blood Bath in Gold for Bulls Over
As per the previous updates on the blog & other social media that Gold will soon HIT $1285. Today trading at $1285, So further in this week. If closes below $1275 Then the further move will towards $1257 & $1244. So, For Bears Today is a Good day to book there shorts with $60 points & sit relax for a new entry. For Bulls they can put the stop loss of closing below $1275 for their long position.
Utsav Babbar
As Per expectation GOLDSo as per my previous posts gold hit $1294 So now we are waiting for $1285. Further will update.
Utsav Babbar
