In June, XAUUSD and MCX Gold crash due to FOMC events. It has recovered almost 60% to 70% loss in the July month. You can read the previous articles of Gold to catch the next move.
This week gold may remain downside until it breaks the levels of 48520 . It can be up...
Key Levels: 46720, 46250.
The corrective nature of the latest rebound suggests the Gold decline will continue. A break of hurdle will raise the possibility of the impulsive decline from near 46720 . A strong selling signal will come after a breakout of 46250 levels. So, intraday (day) traders can start selling between hurdle and breakout levels for the target...
If the bank nifty does not close above the support trendline, it will come into a downtrend. The market can recover up to 34460 - 34700 levels.
The downtrend range is 3880 points from the breakout point.
Don't sell above the retracement level of 0.236 . It's a stop for intraday sellers.
Look at the above weekly chart of MCX Copper. It has created an ascending channel pattern without breakout. This channel started in the previous year's April month. At present, it's falling after making a tail. But how much it can go down? Copper may fall more from here, and that can be up to 728 - 710.6 levels.
But overall, it's on an uptrend. So, soon it will...
Is it a good time to take a long position in silver?
According to the previous data, it has breaks 2021's support trendline. But the price has bounced off from the 200 moving average. And it's not crossing the 0.886 value of retracement. Hence, at the present silver trading range is between 73222 - 69076 levels.
This week silver may collapse up to 0.786 ( TP:...
MCX gold will keep moving further advance up to the targets of 50000 - 51000 levels. But after the first target, gold will try to take a reversal for 0.382 to 0.236 levels of retracement.
Long-term Targets: 51575 - 52492+
MCX Mentha oil can try to collapse up to the support line before hitting the following targets: 986 - 1000 - 1020
Attention: don't buy below the support trendline.
This MCX Mentha oil research is based on the Feb 24 article. Click the below link to read it:
According to EWT, the 5th wave has been almost completed. The ABC correction will start soon. As mentioned in the chart, MCX aluminium will start collapsing for the target price of 176 - 172 - 168 - 162 soon.
At present, if we see for intraday traders, then it's upward. Aluminium will touch 184 - 186 levels, and then ABC correction will start.
Volume accumulation is confirming a downtrend. Here, the price is in a downtrend. But if you look for the short-term, silver price has started rising nearby the retracement value of 0.382. We may see a bullish reversal from the 0.236 value for 0.382 to 0.5.
MCX silver futures prices may hike to the levels of 66000 - 66600 - 67000 - 68000 .
Overall, a clear...
Gold futures preparing to come at $1740 - $1750 - $1760 . Day traders must wait for a breakout of the control price line before entering.
The uptrend will end whenever the gold spot price breaks strong support.
The chart above indicating a clear uptrend continuation. We may see sideways movement before it hits the top of the rectangle.
According to the Darvas box ( rectangular formation ), MCX gold will move upward gently this week. Hence, intraday traders can jump between the range of 45200 - 45300 .
Targets: 45560 - 45680
If gold breaks the bottom of the...
MCX 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....
Why now might be a good time to buy aluminium...
According to this chart, MCX Aluminium can fly from here if it does not close below 176.4 levels.
Targets: 178.6 - 179.6
Short-term targets: 180 - 181.6+
But, if it closes below 176.4 levels, then this call will deactivate. And it will start collapsing for the levels of 174 - 172 from there.
MCX Crude oil can go down for a retracement value of 0.236 in the upcoming days. So, intraday traders can set the following targets to make some money: 4560 - 4500 - 4460 - 4400
But, if brent oil breaks $66.60 upside, then change your position for the following targets: 4800 - 4880+
Refer to the recently published NYMEX Brent Oil Futures article: ...
Here, I have used MA , RSI , VOL , & DMI to identify the next move of Brent Oil. According to those indicators, it seems bullish ahead. We may see the following targets soon: $68.8 - $69.8 - $71+
But, if brent crude oil breaks the hurdle ( $66.60 ) and shows a closing price below it, we will see a heavy downfall. Targets: $64.6 - $62.8 and below
On 15 Feb 2021, I have written an article on Gold. First, click below & read again:
I have written in that article, " If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement. Targets: 46860 – 46600 – 46000 – 45660 – 45200 ".
Gold has touched all...
MCX Mentha Oil Overall Outlook Is ‘Strongly Bullish’
How many of you bought Mentha oil after reading this report?
Mentha oil made a high of 964.9 yesterday, and the first target has come.
Approx. Profit /L = Rs.15,000+
The short-term investors can book profit here. As I mentioned in the above chart, it's MA crossover time. It may move sideways.