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Gold Price Predictions for 2022In the previous trading session, MCX Gold made a high of 51538 and closed at 51343 ( +444 ). A question is, is it moving upward? To identify uptrend: There are two hurdles to continuing the uptrend. It should break out the 5th May high or settle above the control line. According to the above chart, Gold is forming a bullish flag pattern. And we're waiting for a breakout of the flag pattern. This breakout will skyrocket the gold price, and we can see 6400+ points of bullish movement here. Long-term target for gold 58000 - 60000 . Gold downtrend confirmation: But if gold breaks the support trendline (invalidation), then a downtrend may start. And if it happens, I will update you asap. At present, intraday traders can keep buying for targets of 51500 - 51800+ levels. Watch significant releases or events that may affect the movement of gold, silver, and crude oil. Monday, May 09, 2022 04:30 FOMC Member Bostic Speaks - Medium Impact 11:00 Investing.com Gold Index - Medium Impact 18:15 FOMC Member Bostic Speaks - Medium Impact Tuesday, May 10, 2022 17:10 FOMC Member Williams Speaks - Medium Impact 18:00 FOMC Member Bostic Speaks - Medium Impact 21:30 EIA Short-Term Energy Outlook - High Impact Wednesday, May 11, 2022 00:30 FOMC Member Mester Speaks - Medium Impact 02:00 API Weekly Crude Oil Stock - Medium Impact 04:30 FOMC Member Bostic Speaks - Medium Impact 18:00 Core CPI (MoM) (Apr) - Medium Impact 20:00 Crude Oil Inventories - High Impact 22:31 10-Year Note Auction - Low Impact 23:30 Federal Budget Balance (Apr) - Low Impact Thursday, May 12, 2022 10:30 Natural Gas Storage - Low Impact 13:30 IEA Monthly Report - Medium Impact Friday, May 13, 2022 08:30 Import/Export Price Index (MoM) - Low Impact 11:00 FOMC Member Kashkari - Medium Impact 12:00 FOMC Member Mester Speaks - Medium Impact 13:00 U.S. Baker Hughes Oil Rig Count - Medium Impact
MCX:GOLD1!Long
by forextidings
5
NMDC: Perfect Inverted H&S on Daily TimeframeFundamental Understanding: Higher commodity prices command a greater profitability to the miners. NSE:GMDCLTD rose by 150% in the last 4 months 75 trading sessions for the same reason. NSE:NMDC has a ROCE of 29.6 % and ROE 21.8 % and is almost debt-free (Debt to Reserves is quite low). The chart forms a perfect head and shoulders pattern on daily timeframe. The price has broken out the neck and is now retesting with reasonable (low to say) volumes. FIIs have increased their stake by 30% QoQ and the navratna PSU looks clean to benefit from the rising commodity prices. Expecting a good upmove due to rise in commodity prices over the Jan-March 2022 quarter. Look out! For FnO trades, one can take a risky trade with 147 daily closing SL and for the target of 189. For Cash trades, keep adding till ATH for new aggressive moves beyond that.
NSE:NMDCLong
by ShekharChatterjee
06OCT2021Global markets (Last Session): 🟢 US markets closed higher paring most of the losses of previous session. But Rusell 2000, smallcap index closed lower. 🟢 European markets opened posItive & maintained the gains till end of sessions. Closed higher with 0.95% to 1.25% gain. 🔴 US 10YR yield rose 3.17%. DXY re to 93.97 mark. Crude oil shoots up another 1.53% and trading above 82.5 at 3YR high. 🔴 DXY after 3 days of cool off has started rising again and trading above 94.02. Seems like it was BO retest after BO. News And Additional Data: 🔴 Investors optimism outbit worry about the rising commodity prices, inflation, tax hike & tapering, Evergrande crisis. 🟠 Indian equity markets have complete disconnect with the global markets & have outperformed its global peers by miles 🔴 Rising commodity prices & surging crude oil above 82 will turn out to be a major concern for the emerging economies. Indian Indices Last Session: 🟢 #Nifty opened gap down but seen strong buying interest at lows. #Nifty closed the day near day high with 0.7% gain. 🟢 #BankNifty had a gap down too and remained volatile for the first half. Later joined #Nifty to close with 0.34% gain. 🔴 #Long buildup seen in #Nifty with PV breakout above PDH, Both indices closed strongly near the highest point of day. 🔴 FII's were net seller of 3185+ cr ignoring option figures which could be for hedging. DII were net buyers of 1868 cr. Technicals: 🟢 Nifty RSIStairs cooled off in daily TF but it remains overbought in W/M. D(67.00), W(75.45), M(79.74) & ADX D(39.66) 🟢 #Nifty trading above all the major moving averages 20/50/100 in D/W time frame. Took support near the 20 DEMA 17503. 🟢 #BankNifty also trading above all the major averages 20/50/200 DEMA. #RSIStairs on verge of a fresh breakout above 60. 🟠 With quarterly results ahead, market may not be in hurry to correct anytime soon. May consolidate for first 2 weeks. Global markets (Morning Cues @07.45 AM): 🔴 Asian markets trading lower. SGX trading trading flat indicating a muted opening in the Indian benchmark indices 🔴 US & Europe futures trading lower after strong buying in previous session. Rising commodity price remains a concern. Intraday Index Futures Levels 🟢#Nifty Fut 17556/17618/17690/17746-17875/17905/17935/17975. RDX Score- 15M(+6*)/75M(+5*)/1D(+5*)/1W(+6*) #Bullish 🟢 #BankNifty 37185/37375/37525/37749-37913/38048/38173/38345. RDX Score- 15M(+4*)/75M(+2*)/1D(+3*)/1W(+4*) #Bullish #MarketOutlook #TradePlan #PreOpenUpdate #IndexFutLevels #01OCT2021 (View all levels only at 15M candle closing basis) Intraday Index Trade Plan 🟠 After 2 days of strong gains, Indian benchmark indices may consolidate or see some profit booking near supply zone. 🟠 #Nifty trading & sustaining below 17747 on 15 MCB will become weak. Profit booking can be done around 17935 levels. 🔴 We will #Hold & #TrailSL the bullish #BTST #BullishBrokenWingStraddle (-2x ATM PE, -1x ATM/OTMCE) created yesterday. 🟠 New trades to be taken basis stairs signal in 75M which automatically updates in the telegram channel through bot.
NSE:NIFTY1!
by TradersVenue
MCX Natural Gas Head and Shoulders Trading SetupMCX Natural gas has made head and shoulders patterns on the weekly timeframe. And the two shoulders are overlapping. Sell confirmation is line breakout. Recently, it has broken 200 moving average. If it shows closing price below the neckline and 200 MA consecutively, NG will fall nonstop. X and Y are the formation's size. Here is the value of x 100 and y 74. So, according to H&S formation, it can collapse up to 112 - 86 . Hurdle: 196 Short-term targets: 170 - 168 Long-term targets: 146 - 136 Here are H&S, RSI, MA, and DMI throwing sell signals.
MCX:NATURALGAS1!Short
by freestocktips