MCX
Silver ( XAGUSD )My idea to trade silver as sell on rallies As the fundamental on Silver is not improving economic activities are slow . A very important to be taken note of Silver is a industrial utility the demand and supply need to focus on and this has a major impact on the fundamentals of silver . Till the time we are seeing EUR going down and rates keep on increasing this will not make this improving in near future .Ema will be acting as a resistance and if we break above ema then we can see some changes in the trend till the time we are in down trend and will be continued .
SILVER VIEW silver is sell on rise as there is no change in the fundamentals yet so break above the given resistance line is not seen in near future so we continue to drop in the downward channel also it depends on the behaviour of dollar index and cpi data of usa so upcoming Data can be used as a trigger for change in the fundamentals and can help silver to get above the resistance and shine again Till the time we are experiencing low industrial demand.
MCX Ltd - 02.09.2022MCX Ltd - 02.09.2022
The stock is trading @ 1277 levels
The PRICES ARE BELOW EMA
There is a MACD BULLISH DIVERGENCE in Daily Chart
There is a STOCHASTIC BULLISH DIVERGENCE in Daily Chart
There is a RESISTANCE @ 1291 levels
RSI needs a BREAKOUT in Weekly Chart
Watch out for the price action
MCX Natural Gas is high but avoid sell and holdNatural gas futures in MCX and NYMEX is touching new highs day by day and may create temptation for derivative traders to sell and hold by looking at the premium in price. Price may stay higher for quiet some time and may touch 900 in MCX. Fundamental factors and political stress are supporting NG price at this moment. So short term buying is better preferred and selling need a confirmation that will be published here on a later time.
AS RIGHTLY SAID BUY THE DIP AND STOCK TO CREATE WEALTH.As updated in the charts we still expect continued downfall in oil before it further shoots up for a new life time high TVC:USOIL .
It’s the right time to stock oil . we recommend buying in it from 86 levels with a stop loss of 64 .
Thank you so much .
IS IT SMART TO ADD SILVER IN THE PORTFOLIO AT CURRENT LEVELS ?MCX:SILVER1! NO FAVOURABLE CHART PATTERNS, NO TECHNICAL SIGNS OF REVERSAL.
Can a contra bet of long positions be initiated at current levels ?
Well, the retail investors looking for diversification of their portfolio's, have a great opportunity to add silver futures. The risk reward ratio is favourable at current rates plus there is a high chance of bounce back and short covering at the expiry.
But again,
One cannot predict the downfall from the current levels as there are no indications in the chart patterns. Just a blind trade.
The idea shared is for educational purpose only.