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MCX

NG (MCX): Week of - 13/02/2023Levels: Support: 200-190 Resistance: 220, 230, 250 OI Data (21st Feb Expiry): Nearest Major Resistance in NG per OI data: 220, 230, 250 Nearest Major Support in NG per IO data: 200 Trade setup: 1. Looking at the OI data, most likely range-round is: 200-250 +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 230 | 220 | 250| 300 ----------------------------------------- SELL | < 195 | 205 | 175 |150 +++++++++++++++++++++++++++++++++++++++++
MCX:NATURALGAS1!Short
by pradipandsuvra
Crude Oil (MCX): Monday - 13/02/23Levels: Support: 6500, 6460, 6375, 6335, 6300 Resistance: 6620, 6700 OI Data (15th Feb Expiry): Nearest Major Resistance in Crude per OI data: 6600 Nearest Major Support in Crude per IO data: 6400 Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 6620 | 6550 | 6660 | 6700 ----------------------------------------- SELL | < 6500 | 6550 | 6450 |6400 +++++++++++++++++++++++++++++++++++++++++
MCX:CRUDEOIL1!Long
by pradipandsuvra
Silver lost 2700 Rupee from top Silver prices corrected after prices rallied on the news that India raised total taxes on silver imports 15% and on silver dore to 14.35%, the government said in a statement on Wednesday, in an effort to align the duty structure of the metal with gold. - The euro dipped against the dollar on Thursday after the European Central Bank (ECB) hiked interest rates by a widely expected 50 basis points and offered no new hawkish surprises, while the Bank of England (BofE) adopted a more dovish tone on inflation.
MCX:SILVER1!Short
by KEDIA_ADVISORY
MCX Natural Gas – Elliott Wave projectionNatural gas has completed the impulsive cycle at 801 and started collapsing to form the corrective process. In this corrective cycle, the price has accomplished the corrective wave B and started constructing wave C of normal zigzag correction. There are two reversal points for natural gas: 1) Wave C can occur near wave (4) 2) wave C can accomplish its corrective cycle at 219.8 where wave A=C. If the price sustains below the lower band of the channel, traders can expect the following targets: 288 – 275 – 267 . According to Elliott waves, correction can occur near wave (4) of the previous cycle. I already mentioned expected reversal points.
MCX:NATURALGAS1!
by forextidings
1
EWT – Is Natural Gas Prepared for a Reversal?In our previous article, we discussed impulsive wave C and its continuation. On 20 January 2023 , Price achieved our all given targets. Click here - ----------------------------------------------------- Timeframe : MCX Natural gas has accomplished the corrective wave B and started falling for impulsive wave C. Price has given a reversal from previous wave C, but it is no conclusive evidence that it has completed wave c. When it comes to confirmation, Traders should watch the level of 313 . If the price breaks out the 313 , it will enter into the parallel channel. Traders can buy for the following targets: 321 – 340 – 366 . Don’t forget prices are moving outside the channel, which is a negative point for bull traders. Bearish continuation is possible if the price sustains below wave (4). I will update further information soon.
MCX:NATURALGAS1!
by forextidings
2
Gold $ International Chart (Bird View)Analysis On 14th December 2022 This is a Bird View so Possible Movement of Gold in a Daily TF for a Medium-term view. >Wave Counts - Recently, Gold has just reached to Depth of Correction point in Minute Cycle of Wave Count , while in an Intermediate Cycle, it seems like Wave C is still on. Furthermore, Last month's upward journey is still not break 50% (Healthy Retracement) of retracement compared to top of B wave (Intermediate Cycle). (Bearish) Divergences - There is multiple divergences, we can see in above chart, 1. Bearish Continuous Divergence between 2nd wave and C wave within the C wave (Intermediate Cycle). (Bearish) 2. Bearish Reversal Divergence in Wave C (Minute Cycle), Where some sort of Upward Triangle Chart Pattern Has Formed. (Bearish) After all, I expect one more downside leg which is 5th wave in Minor Cycle, till Depth of Correction in Intermediate cycle of 4th Wave (1451.41 $) Have a Good Day!!
TVC:GOLDShort
by KRSCharts
2