Get started

Mcxtips

Technical Analysis and Price Projections for MCX ZincExamining the daily chart of MCX Zinc utilizing Fibonacci retracement, notable developments are observed. In May 2023, Zinc breached the 61.8% retracement level but did not test the subsequent level at 78.6% . Instead, it retraced back to the 61.8% level. The pivotal level of 228 suggests that the downtrend in Zinc may have concluded. This level holds significance as it could propel Zinc upwards, targeting levels of 236 , 242 , and potentially 257.6 . According to the principles of Fibonacci retracement, a weak trend reversal signal is indicative of a weak trend. Therefore, if Zinc breaches the red trendline, a potential downside with target prices of 212 , 206 , and 200 could be anticipated. Caution is advised between the 61.8% retracement level and the trendline.
MCX:ZINC1!
by freestocktips
MCX Natural Gas – Impulsive Wave SetupA new impulsive structure has emerged from the low of 265.5 in natural gas. Price has accomplished wave (5) and started the zigzag correction at 801. Currently, Natural gas is forming sub-wave 5 of impulsive wave C. Natural gas has also broken down 200 EMA and the base channel of 2 – 4 wave, which signals bearish momentum. It has faced strong support of 515 , but the price didn’t respect the level and ended up losing bullish momentum. Wave C has traveled the same distance as wave A. Hence, Wave A = Wave C. If the price sustains below 516, traders can trade for the following targets: 486 – 462 – 440 . I will update further information soon.
MCX:NATURALGAS1!Short
by forextidings
8
MCX Crude Oil: Will it Drop Below 5000 Before the Weekend?MCX Crude Oil: Will it Drop Below 5000 Before the Weekend? In the wake of the COVID-19 pandemic, crude oil prices experienced significant volatility, hitting a low of 795 and reaching a peak of 9996 on March 8, 2022 . Currently, the price is undergoing a retracement, approaching the key level of 50% . Following the peak, crude oil prices began to decline, forming a parallel channel pattern. The price has been trading below this channel for over a year. Based on moving averages data, crude oil is expected to reach the support level of 5396, which is currently acting as a strong support zone. A potential reversal may occur around the "control price line" from the 0.5 level of the Fibonacci retracement. If crude oil breaks the key retracement level and consistently closes below it, the following target levels may come into play: 5200 - 5000 - 4700.
MCX:CRUDEOIL1!
by freestocktips
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
MCX Gold Elliott Wave Projection For July 2022Gold has accomplished the final correction wave (Y) of wave ((B)) and has begun to form sub-waves of the corrective wave ((C)). Currently, the price is at 100 EMA & the lower band of the parallel channel. It appears that the movement of gold is being dominated by bears, as it is making lower lows and lower highs. If the price breaks down the parallel channel, traders can initiate a short position for the following targets: 50153 – 49600 – 48560 . It should be noted that the breakdown of the parallel channel is also the breakdown of the 100 EMA. 49600 is a pivot zone for gold. If the price sustains below 49600 , traders can expect rapid bearish momentum.
Editors' picks
MCX:GOLD1!
by forextidings
10
MCX Crude Oil Elliott Wave Cycles Point More Upside Price had made extreme low at 795 on 20 Apr '20. It had started a quick recovery after an inviolable bottom-out. Due to bearish sentiments and no evidence of the verified bottom, It had constructed 2nd wave correction. The second wave retraced 38.2% of wave 1, which indicates a sturdy bull trend is ahead! The acceleration phase lasted for 246 days and, the Fibonacci extension of wave 3 was 161.8% of the wave. The public participation increased when the price had broken up the high of the first wave. It has the signal for bulls that crude was likely to make a new high. After the acceleration phase, the price has corrected the bull phase with a double zigzag. It had retraced 38.2% of wave 3. This correction was sharp in comparison with 2nd wave. According to the above chart, Wave 2 has taken 89 trading sessions to correct wave 1. Wave 4 has taken 45 trading sessions to correct wave 3. Wave 4 was a surprising disappointment for the bull traders. Here, wave 3 is not a power extended because it hadn't moved across wave 1.618% of wave 1. According to the Elliott wave principle, commodities are more often extending at the 5th wave. Currently, the price has made a new high of 6428 . Price has entered the corrective phase. It is constructing the 4th sub-wave of the impulsive wave ((5)). There are two possibilities, 1. If the price breaks the parallel channel, we can expect 50% to 61.8% retracement for wave 4. Be aware of the fake breakout! Remember, entry is also not possible without an exact reversal signal. Caution: Wave 4 can never overlap the starting point of wave 1. 2. Price is on the control line of the base channel. The safe trader can enter the buying position when price breaks the wave B. Be connected with me to get intraday updates.
MCX:CRUDEOIL1!
by forextidings
5
Simple Positional Trade Setup | MCX | short-mid termNSE:MCX Observations: 1) On Daily time frame, we can see now it is back to the level range which was earlier working as resistance and it was breakout level. Now it has come to test this and if it sustain and gets support then this range will work as support level. We can see good bounce back and the bullish up move can re-start again. Please refer below chart : 1day Time Frame. 2) On Daily Time frame again, if we apply FIB RETRACEMENT levels then we can see that it is resting just above the 61.80% level range. There are chances that the down trend will reverse now and the up trend will continue as generally at this 61.80% most of the time retracement of uptrend gets over. Please refer below chart : 1day Time Frame. ----------------------- Positional Trade Setup 1 : One can take long position from CMP with SL of 1750 and target of all above levels. 2 : If one wants to take safe position then one can take position after it gives sustainable breakout of 1855 level. SL will be 1800 and all above levels will be targets. 3 : One can take short position if it give breakdown of 1750 level with SL of 1790 level and target of 1696 and 1650. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels.
NSE:MCX
by Trading_hawk
Simple Trade Setup | MCX | 30-08-2021NSE:MCX Observations: 1) On Daily time frame it is already trading below 200DMA. Please refer below chart : daily time frame. 2) On Daily time frame it has taken reversal from it's critical support 1455 level range and also closed above 400DMA. It shows the strength will come in stock to get bullish now. Please refer below chart : daily time frame. ------------------------------------- Trade Setup for Date 30-08-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:MCX
by Trading_hawk
4
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