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Crude Analysis !! #Crude #Commodities Description : Crude at lower levels following support area and a trendline zone as well. At top upper parallel levels of trendline are followed. Now at top and formed a strong red candle which can a be probable top if it gives follow through and breaks 86$ level. Support Area : Break of Support at 86$ downside will lead to immediate support at 76$ followed by 72$ & 65$. If not, Uptrend may continue. Resistance Area : Break of resistance on upside 91-92$ on upside will again resume uptrend.
TVC:UKOIL
by ShelendrAgrawal
Silver Daily Gann Chart Pointing HigherCurrently, silver has jumped back into the uptrend area. It has also broken the parallel channel in the last trading session. But, the buy is not confirmed yet. The uptrend can be resume if it remains above 0.618 of retracement level and 3/1 & 8/1. If that happens, then you can buy for the targets of 63900 - 65100 - 65960 - 68454. What happens if it's fake-out? That's a straightforward scenario on the above chart. MCX silver futures will come under the control of sellers in the downtrend area. It will fall nonstop for the targets of 59960 - 59400 - 58600 - 55765.
MCX:SILVER1!
by forextidings
1
Zinc possible targets 260 to 280The chart structure shows a strong bias toward the upside. Most likely zinc is just starting to show initial signs, yet it's a fairly strong indication of higher side move. As long as it continues to stay above the breakout level, & closes above 238, the probability of higher levels seems fairly strong. At this point of time, targets of 260 to 280 seem be doable. The upside view gets invalidated, if the breakout fails and zinc starts to close and sustain below 232 levels. Unlike stock charts that I typically study, the volumes here are not very helpful in understanding the breakout better. Due diligence advised. This view is purely for study purposes.
MCX:ZINC1!Long
by amar_gr
COFFEE - Wide Awake Hi all, I am here again to give you something valuable:) Observed the coffee future chart which is trading in the multi year resistance zone. This is the fourth time now that it is into that zone and owing to increase in the prices of other commodities it may break the resistance this time. Stocks of FMCG segment will benefit from it. One stock which I see benefitting from it is TATA COFFEE. I will post the chart of it soon, till then do your own due diligence. Happy Learning!
ICEUS:KC1!
by Ankit_Oberoi
Reason why I am bearish on 10Y T-Note#ZN1! #10YearTNote #Weekly #CBOT - I took a deep look into the 10-year Treasury Note, futures commodity. The chart above is weekly. - In Elliott Wave Theory perspective, an assumption has been made that the bullish wave starting from the swing low at 117’13’5 to the swing high at 140’20’0 as am impulsive 5-3-5-3-5 zig zag wave structure. - With that said, I am weighing more on the possibility that the bullish wave from 130’25’0 to 135’15’0 is an 5-3-5 ABC corrective phase and this scenario becomes a bit more solid if bottom of the blue channel fails supporting. - While expecting another corrective wave, a major confluent zone to keep an eye on is the red circle on the chart. This is where an inner downward trendline, a neckline (green trendline), and 0.382 retracement level overlaps. - However, entering long here seems quite risky considering the RR ratio. Also, if the potential neckline (green trendline) breaks below, I am way more bearish expecting widening/broadening pattern. - Those aggressive traders willing to take the risk here (buying at red circle), make sure to set a tight stoploss. I would rather be patient and wait until the price action gets confirmed and enter short if the trendline fails supporting. - Here are some of the decent areas to enter long position if the H&S case is likely after observing failure of support at the neckline: 128’5~129’5 and 124’9~125’9.
CBOT:ZN1!Short
by Tommy_Trader
1