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MCX Crude Palm Oil: Fifth Wave Rally Is StartingMain scenario: consider long positions from the control price or support trendline for the target level of 1040 - 1080 - 1100 - 1110 . Analysis: Daily time frame - presumably, the crude palm oil has started an Elliott wave and made the 4th wave, and now it's making a fifth wave. According to EWT, the fifth wave will be completed at 61.8% or 50% of Fib retracement 1+3 . Alternative scenario: breakout and consolidation below the support trendline will allow the CPO to continue declining to the levels of 880 - 760.
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by freestocktips
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PART 2: When Will MCX Gold explode?On 15 Feb 2021, I have written an article on Gold. First, click below & read again: URL: I have written in that article, " If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement. Targets: 46860 – 46600 – 46000 – 45660 – 45200 ". Gold has touched all targets. NEW UPDATE: ============== Keep eyes on the retracement value of 0.618. It will act as a resistance. Targets: 44260 - 43600 - 43000 - 42260 Alternative scenario: If gold remains above 45200, it may try to hit 0.382 (TP: 46000 – 46800+ ).
MCX:GOLD1!Short
by freestocktips
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UPDATE: MCX Mentha Oil Overall Outlook Is 'Strongly Bullish'MCX Mentha Oil Overall Outlook Is ‘Strongly Bullish’ How many of you bought Mentha oil after reading this report? Mentha oil made a high of 964.9 yesterday, and the first target has come. Approx. Profit /L = Rs.15,000+ The short-term investors can book profit here. As I mentioned in the above chart, it's MA crossover time. It may move sideways. Overall, it's in an uptrend. Hence, the targets will remain the same.
MCX:MENTHAOIL1!Long
by freestocktips
UPDATE: When Will MCX Gold explode? [Profit - INR 210000]As expected, gold has started collapsing after a breakout of the test level. Will it keep falling? First, click here and read the previous article on gold: When Will MCX Gold explode? I have written in clear words, " If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement. Targets: 46600 – 46000 – 45660 – 45200 ". Gold has touched the first two targets by making a low of 45861. Profit per lot Rs.2,10,000 Anyway, what next? Gold can take a U-turn from here. This can be up to 46760 levels. Overall, it's under a downtrend.
MCX:GOLD1!Short
by freestocktips
Does MCX Mentha Oil Begin to Move Upwards?Here's the daily chart of the MCX mentha oil. Right now, it's moving between the Dynamic resistance and support trendline. It's trying to cross the Moving average. If consecutive candles cross the moving average downside, it will hit the support trendline by crossing 956 - 946 . But RSI crossing is indicating an uptrend. And ADX is greater than 25, Which shows an uptrend. +DI is under -DI, which means a downtrend. But the trend is positive. So, after crossing the moving average, maybe the trend will move downside for a short time. But it will start rising and hit the following targets 976 - 986 .
MCX:MENTHAOIL1!
by freestocktips
MCX Crudeoil - Forecasting the Next step with EWTMCX crude oil has made the bullish Elliott wave on the 4H time frame. The fifth wave is remaining, and the trend has to cross 3900 - 4000 - 4040 to complete the fifth wave. Then the trend will fall for a short time to make the A of the ABC correction. After that, it will rise again to a particular level to make the B, and then fall again for a short time to make the C. This is how the trend will complete the Elliott wave pattern with the ABC correction. But if it falls, then it will be the failure of the Elliott wave. And targets for the fall will be 3700 - 3650 . As per the indicators............ DMI- ADX is greater than 25, +DI is above the -DI. DMI shows the allover uptrend. RSI is indicating the uptrend, too.
MCX:CRUDEOIL1!
by freestocktips
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MCX SILVER- Forecasting The Future MoveHere'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 following 66000 - 69600 . But if it falls by crossing the support, then it will hit the 57900 . After hitting 57900, there will be a reversal in the trend. If the trend crosses the 57900 , then this level will react as the hurdle. The targets for the downside movement are the following 55930 - 55000 .
MCX:SILVER1!
by freestocktips
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Is Natural Gas Ready to Complete a "Head and Shoulders"?Natural gas started to make the head and shoulders pattern on the daily timeframe. First of all, let's understand some basics about the head and shoulders pattern. Here, it's a bearish head and shoulders pattern. In this pattern, the trend starts with the uptrend and makes the left shoulder, head, and the right shoulder. And after the completion of the right shoulder, it falls by breaking the neckline. In this chart, the trend completed the left shoulder, and the head is almost there. And then it will create the right shoulder. It will fall up to the neckline to complete the formation of the head. And the targets to reach the neckline are as following 180 - 175 - 168 . After hitting the neckline, the next step of natural gas will be the right shoulder. As per the rules, the right shoulder can be similar to the left shoulder or, it can be at a higher level than the left shoulder. Because the left shoulder is at 203 , the trend will march again to 203 to make the right shoulder. To reach 203, natural gas will hit 180 - 190 - 200 . And then the trend will take reversal and fall by breaking the neckline. Targets: 195 - 185 - 175 .
MCX:NATURALGAS1!
by freestocktips
MCX Zinc Will Touch 240 level by EWTHere'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 five sub-waves. Short-term investors can see the following levels soon: 228 - 234 - 240
MCX:ZINC1!Long
by freestocktips
What's Next for MCX Gold Guinea Price Trend ForecastMCX 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 pressure) if it breaks the support line (dashed). And 50 MA is indicating the same. Hence, once it breaks the support line, intraday traders can sell for the following targets: 39460 - 39260
MCX:GOLDGUINEA1!
by freestocktips
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