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TRIANGLE breakout in SILVER (XAGUSD)Elliott wave analysis:- View 1:- if it is a BULLISH triangle then it will break upside and the entire pattern next to w) wave is TRIANGLE X) Pattern. View 2:- If X wave was flat correction then a) wave was completed and b) wave was a BEARISH triangle and C wave has to break downside and the target will be same size of a) wave. i am not a SEBI registered advisor. Before taking a trade do your own analysis or consult a financial advisor. I share chart for education purpose only. I share my trade setup.
OANDA:XAGUSD
by n0m0ret0ss
World gold continues to plummetHello everyone! Gold continues to maintain its record low today. The price of gold globally fluctuated between 1,820 and 1,830 USD/ounce last night. As of 6 a.m. on October 4th, the current price of gold is trading at 1,824 USD/ounce, which is a slight decrease of 3 USD compared to the previous day's price of 1,827 USD/ounce. According to the Federal Reserve (FED), inflation remains too high and interest rates need to be increased in order to control commodity price pressures. Consequently, the yield on US Treasury bonds with a maturity period of ten years surged to 4.75 points, leading to a strong influx of capital into bonds and adding further downward pressure on gold prices today as they continue their plunge into depths.
OANDA:XAUUSD
by Samson-FX
Gold Will Shine Or Fade?Hi friends, Sharing an trading idea on Commodity Gold futures on daily chart as we can see that after hitting all time of 61800 levels all the way it came down 57900 (considering strong support) levels and took support there and resume rally again to 60000 levels with created a double top on this chart. So currently it is trading near to that support and seems that price want to touch that support again so once it will reach there we can see two things it breaks the support or bounce from support for targets for both situations marked on chart stop loss must be a close above or below from support in opposite direction of trade on daily candle closing basis. RSI indicator used below on chart for getting a better synchronization, that what can happen break or bounce. One can use own time frame for tracking this idea There must be a logic behind every trade, because trading on logics is always better than trading on speculations. Good luck happy trading Best regards. This is not and trade or investment advice. This idea is meant for learning only.
MCX:GOLD1!
by AMIT-RAJAN
8
Projected NIFTY Levels for October 3, 2023:The Market Commentary for September 29, 2023, and the projected NIFTY levels for October 3, 2023. Here's a breakdown of the information: September 29, 2023: NIFTY closed at 19638.3. NIFTY's highest point during the day was 19726. NIFTY's lowest point during the day was 19551. The commentary notes that NIFTY bounced back from its support level of 19520 but was unable to cross and close above its first resistance of 19723. It was also mentioned that it was the first day of October expiry. Major gainer sectors on this day included the pharma sector, up 2.66%, the metal sector, up 1.90%, PSU banks, up 1.63%, and the commodity sector, up 1.55%. Projected NIFTY Levels for October 3, 2023: Support levels: 19723 and 19508. Resistance levels: 19772 and 19856. The commentary provides potential support and resistance levels for October 3, 2023. It suggests that the first support level is at 19723, with the next support level at 19508. Resistance levels are at 19772 and 19856. Expiry days can introduce volatility into the market, and traders should be prepared for price swings. Support and resistance levels can be helpful in guiding trading decisions, but it's important to consider risk management strategies and stay informed about market developments.
NSE:NIFTYLong
by Bulls_Flavour
MCX - Ichimoku BreakoutStock Name - Multi Commodity Exchange Of India Limited Ichimoku Cloud Setup : 1). Today's close is above the Conversion Line 2). Future Kumo is Turning Bullish 3). Chikou span is slanting upwards All these parameters are showing bullishness at Current Market Price and more bullishness AFTER crossing 2100 #This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market. #CloudTrading #IchimokuCloud #IchimokuFollowers #Ichimokuexpert I hope you all like my analysis. Please do share your thoughts into comment section. Please give a like, share & subscribe for daily analysis.
NSE:MCXLong
by nikunjbhadja
CRUDEOIL - INTRADAY UPDATE - 28 SEP - Crude oil is losing momentum in the 1 hour chart due to persistently high interest rates. - Waiting for momentum to return near 6 p.m. today. - The chart shows possible targets for crude oil in the near future. Analysis The 1 hour chart of crude oil shows that the commodity has been losing momentum in recent hours. This is likely due to a number of factors, including persistently high-interest rates. High-interest rates make borrowing money more expensive, which can lead to a decrease in demand for crude oil.
MCX:CRUDEOIL1!
by Shalvisharma5
1
Gold bears cheer death cross, trend line break to target $1,860Gold licks its wounds at the lowest level in more than six months after falling the most since late July the previous day. Although the oversold RSI prods the XAUUSD sellers, the bearish MACD signals, a clear downside break of the previous key support line stretched from February and a death cross on the daily chart together suggest further downside of the previous metal. That said, the death cross is a bearish moving average crossover wherein a short-term SMA pierces the longer one from above. With this, the bullion appears well set to decline towards the 78.6% Fibonacci retracement of February–May upside and then to the early March swing high, respectively near $1,860 and $1,858. In a case where the precious metal remains bearish past $1,858, March’s low of $1,809 and February’s bottom of $1,804, quickly followed by the $1,800 threshold, will lure the commodity sellers. On the flip side, the previous monthly low of around $1,885 and the $1,900 round figure guards the immediate upside of the Gold Price. Following that, the support-turned-resistance line stretched from February will join the 61.8% Fibonacci retracement level, also known as the Golden Fibonacci Ratio, to challenge the XAUUSD buyers around $1,905. In a case where the quote remains firmer past $1,905, the 50-SMA and the 200-SMA will restrict the asset’s further upside to around $1,923 and $1,928 in that order. Overall, the Gold Price is likely to decline further towards the yearly low.
OANDA:XAUUSD
by MTradingGlobal
XAUUSD - GOLD: The downtrend is strongBreaking the 1893 support zone, gold plummeted to 1874 Gold price dropped nearly 40% in just 2 days, this is a huge crisis for XAUUSD traders Is there any chance for gold to return? I am inclined to the trend that gold will return to the 1898-1900 area before plummeting again to form a new "Down Theory". Let's refer to some of the following news: This morning, the world gold price dropped sharply to 1,876.2 USD/ounce. Gold futures last traded at $1,890.90 an ounce World gold slipped from the important psychological support level below 1,900 USD/ounce in early morning trading this morning as the hawkish stance of the US Federal Reserve (Fed) continued to promote the increase in bond yields. bonds and the dollar and crushed the bullish trend in the metals market. Last week, the Federal Open Market Committee (FOMC), the Fed's policy-setting body, decided to keep the funds rate steady at 5.25% and 5.50%. JP Morgan CEO Jamie Dimon recently said that the market needs to prepare for the Fed funds rate at 7% in the coming months and this is a bad scenario for gold. According to some analysts, the decline in gold prices could push prices to a 2023 low of $1,810/ounce on the spot market. A sell-off was triggered after the Fed signaled it would maintain a restrictive monetary policy for the foreseeable future even as the tightening cycle ends. The US Central Bank's aggressive stance pushed bond yields to a new 16-year high and the dollar to its highest since November, pushing gold off its August low of $1,885. ounce. James Stanley, senior market strategist at Forex.com, forecasts initial resistance around $1,850 an ounce. While many experts say higher inflation will support gold, according to Marc Chandler, CEO at Bannockburn Global Forex Exchange, higher inflation means higher interest rates, making the metal interest-free. become somewhat worse. Chandler predicts that gold will slide to $1,840/ounce. Even so, some analysts maintain a long-term bullish outlook for the precious metal. Ole Hansen, commodity strategist at Saxo Bank, said that rising energy prices coupled with slower economic growth are creating an environment of stagflation, which he expects will eventually push up prices. Gold is back above 2,000 USD/ounce.
OANDA:XAUUSDShort
by FoX_PipsPioneer
GOLD: Any positive signals for gold in the coming time?Gold prices fell as US Treasury bond yields increased and reached their highest level in many years. DXY index reached its highest level in 6.5 months. The DXY index (which measures the greenback's fluctuations against 6 major world currencies) traded at 106.4 points. Daniel Ghali, senior commodity strategist at TD Securities, said investors should pay close attention to economic data due to be released this week. US GDP data scheduled to be released on September 28 (US time) will likely disappoint, creating concerns that the US economy may face difficulties. Thereby creating a positive trend for the gold market. In addition, the personal consumption index published on September 29 is likely to also support gold prices. Colin Cieszynski, chief market strategist at SIA Wealth Management, said the rising USD caused gold prices to only reach between 1,900-1,950 USD/ounce. Ben DiCostanzo, senior market strategist at Walsh Trading, said gold is in a difficult position. In the long term, interest rates remain high, making it difficult for precious metals to maintain their upward momentum. Darin Newsom, senior market analyst at Barchart, said gold prices remained flat. A fall in the USD could trigger a soft buying spree in gold.
TVC:GOLDLong
by FoX_PipsPioneer
TIGER Logistics - Analysis BSE:TIGERLOGS Tiger Logistics Ltd. is a leading logistics company that is into multiple segments related to supply chain management. This is a company that handles freight forwarding, CHA, cold storage-related shipments, and commodity-related movements. It has associates and offices around the globe. So, this is truly a global supply chain management company operating out of India and this is one of the major beneficiaries this year as well as going forward for Aatmnirbhar Bharat. It is a turnaround case, and it has come to profit this Qtr with Rs 1.21 eps (Quarterly) after losses in many quarters due to covid. Small Equity base - Only 1cr shares High Promoter Holdings - 73% Public Holding - Only 27% floating stock. The all-time high is 300+ in 2017. P/E Ratio is 36.98 Currently available below Rs 44. Highly undervalued. Cheapest Logistics stock among Quality companies. Price continues to accumulate. 52.15 is an important resistance and the price will continue to be in the range without any breakout. 57.05 is another important level which is the previous high.
BSE:TIGERLOGSLong
by babutaaniket
1
📈 Exciting Bullish Pattern Alert! 🐂📈 Exciting Bullish Pattern Alert! 🐂 📊 Pattern: Cup & Handle 📌 Symbol/Asset: CRUDE (MCX) 🔍 Description: Commodity has given channel breakout with Cup & Handle pattern. 👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation. Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately
MCX:CRUDEOIL1!Long
by FiveCircles
Gold prices continue to be under downward pressureThe world gold price stood at $1,919, down $6 from the same hour last morning. Precious metals are experiencing a brief technical sell-off amid a lack of supportive information. In addition, the USD and bond yields continued to increase, putting pressure on gold. In the short term, gold continues to be under downward pressure. Even so, gold has strong support at the 200-day moving average, around $1,920. At the end of the year or early next year, the selling pressure on precious metals will decrease. The USD is expected to weaken following signals of the Fed's gradual loosening of monetary policy. Besides, the gold consumption season at the end of the year can also support this commodity more actively.
OANDA:XAUUSD
by Rancy-SuperTrend
Gold bears prepare for another stunt as US inflation loomsGold Price again prods the 200-day Exponential Moving Average (EMA) support, after failing to break the same during late August, within a 2.5-month-old falling wedge bullish chart formation. The sluggish MACD signals and a downward-sloping RSI (14), not oversold, also favor the XAUUSD bears in breaking the 200-EMA support of around $1,910, which in turn will allow the precious metal to test the $1,900 threshold. However, the stated wedge’s bottom line of around $1,880 could challenge the commodity sellers afterward. In a case where the quote remains bearish past $1,880, the 78.6% Fibonacci retracement of its February-Mary upside, close to $1,860, will act as the final defense of the buyers before directing the prices toward the early 2023 low of around $1,805. On the contrary, the Gold Price recovery will aim for the 100-EMA hurdle of surrounding $1,930. Following that, the aforementioned bullish chart pattern’s top line, close to $1,945, and the monthly high of near $1,953 could challenge the XAUUSD buyers. In a case where the bullion remains firmer past the $1,953 hurdle, the odds of witnessing a rally towards July’s peak of $1,987 and then to the theoretical target of the wedge formation, close to $2,045, can’t be ruled out. It’s worth noting that the $2,000 psychological magnet acts as an extra filter toward the north. Overall, the Gold Price appears to decline further but the downside room seems limited unless the US CPI offers an extremely strong figure for August month.
OANDA:XAUUSD
by MTradingGlobal
XAU continues to decrease after recoveringIn the early hours of September 8, the global gold price on the Kitco exchange was trading at $1,918.20 an ounce, up $1.8 from the previous trading hour. December gold futures traded 0.16% lower at $1,941.10 an ounce on the day. Gold prices rose after yields on 10-year U.S. Treasuries fell slightly as investors waited for more U.S. economic data to gauge interest rate outlook. “Markets are clearly seeing a bearish to bullish turn in recent U.S. economic data, which suggests that the Federal Reserve rate hike is still over,” said Ole Hansen, head of commodity strategy at Saxo Bank. We are strengthening the expectation that it may not be." . “Also, the US dollar hit a six-month high, so gold remains heavily data-dependent. The first unemployment claims will be released later in the day, but the data will not be available until next week’s consumer price index. It will be (CPI) data," he added. The dollar surged to its highest level since March after better-than-expected U.S. services data. On the other hand, according to Reuters, the 10-year government bond yield fell from a two-week high on the previous day (September 6). On Sept. 6, Boston Fed President Susan Collins urged the central bank to be cautious about its next monetary policy move, but acknowledged signs of progress in containing inflation.
OANDA:XAUUSDShort
by Forex_Global
Gold market continues with downtrendEdward Moya, senior market analyst at OANDA, said: “Global bond yields are surging and there seem to be concerns that global growth concerns could get even worse and that That gets people back to the dollar.” Worries about global growth, especially in China and the euro zone, have pushed haven demand for the currency to its highest in months, making gold more expensive for buyers abroad. outside. Metals market bulls were discouraged after China received some weaker-than-expected economic data. According to CME's FedWatch tool, the market is expecting a 93% chance the Fed will pause interest rate hikes at its September meeting. However, there is a 40% chance of a rate hike in November or December. In the short term, gold continues to be under downward pressure. However, gold is quite strongly supported at the 200-day moving average, around $1,920 an ounce. At the end of the year or early next year, the selling pressure on precious metals will decrease. The USD is expected to weaken following signals of the Fed's gradual loosening of monetary policy. Besides, the gold consumption season at the end of the year can also support this commodity more actively.
OANDA:XAUUSDShort
by Forex_SCALP_VIP
3