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Gold's Chart Signals Temporary Downtrend but Uptrend Indicators As per the analysis of the provided chart, the outlook for Gold suggests potential downside towards the levels of 59260 , 59000 , and 58700 . Traders should pay attention to the level of 59600 , as a crossover and close above this level could signal a resumption of the uptrend. The presence of the 100-day moving average and a parallel channel on the chart further support the notion of an underlying uptrend, indicating that the current downtrend may be temporary. In terms of key events for today, the following are of significance: 18:00 Core PCE Price Index (MoM) (Apr) and Core Durable Goods Orders (MoM) (Apr) - High impact 19:30 Michigan Consumer Expectations & Sentiment (May) - Low impact 22:30 U.S. Baker Hughes Oil Rig Count - Medium impact Additional information and important event details for the upcoming week will be provided shortly.
MCX:GOLD1!Short
by forextidings
1
Don't Get Yourself Into a Bull Trap With MCX GoldKey levels: 47948 - 49290 Gold is rejecting uptrend and downtrend at the level of 47948 . And we don't see a powerful movement in the 2021 year, wherein it throwout the level of 49280 successfully. Here, you will have a strong support level, wherein we may decide about buying or selling. And it is the level of 47948 . Intraday traders can keep buying the gold for targets of 48360 - 48640 - 48890 - 49280 until it remains above the level of 47948 . But, if you see a breakout of the first 'key' level, then sell it for the targets of 47480 - 47060 below. Buyers must be aware these days. Why? The gold prices may push down with power compared to an uptrend because of Coronavirus (Omicron). For advance traders, watch significant releases or events that may affect the movement of gold, silver, crude oil & natural gas. Tuesday, Dec 28, 2021 20:30 CB Consumer Confidence (Dec) - High Wednesday, Dec 29, 2021 03:00 API Weekly Crude Oil Stock - Medium 21:00 Crude Oil Inventories - High Thursday, Dec 30, 2021 19:00 Initial Jobless Claims - High 21:00 Natural Gas Storage - Low
MCX:GOLD1!
by forextidings
4
Part 2: Silver will touch 69200 levels again?Key level: 62110 On 6 June 2021, I had drawn a chart of silver ( ). Wherein, I've shown the silver can collapse up to 0.618 . It has made a low of 62184 and touched 0.618 levels of retracement. If MCX silver crossover and close below the level of 62110 , it will try to hit 60000 - 58900 - 57260 levels. Otherwise, it will take a bounce back from here and come back to the 65800 - 69200 levels. Please note, don’t forget to watch significant releases or events mentioned in the last update of crude oil that may affect the movement of gold, silver, and crude oil. URL:
MCX:SILVER1!
by freestocktips
3
MCX Nickel Parabolic Curve Pattern & TipsThis is MCX Nickel weekly chart. Price projection is based on Parabolic Curve & Fib Retracement. As mentioned in the chart, At the end-point of Base 3, indicated by the "X" symbol, the nickel could double in the shortest period of time. Targets: 1426 - 1632 - 1778 - 1854 - 1962 ( 2.618 - Based on Fib Retracement ). If nickel breaks the curve line, it can collapse up to "X" or base 3 deep. Hence, we can see the following targets from the selling point: 1130 - 1050 - 960 - 850 and below . Remember, trade with the direction of the breakout. And stop-loss above/below breakout level.
MCX:NICKEL1!
by freestocktips
6
Identifying the Crude Oil Price Next Big MoveAccording to this chart, MCX crude oil is trying to climb upward. It has started upside rally from the beginning of May. Here, I have applied Volume, DMI, MA, and Fib Retracement to identify the next move. Moving average of 50 & 200 is throwing direct up signals by crossover. And here, ADX is less than 25 but +DI above the -DI. Hence, we have chances to see slow movements. Smart investors can buy for 3260 - 3300 - 3360 - 3400 levels. In the previous trading session, it has created a Doji. It’s a direct sign of a reversal or trend continuation. But if it breaks the support line, the crude oil will fall to 88.6% (2982) - 78.6% (2735) of Fib retracement levels.
MCX:CRUDEOIL1!Long
by freestocktips
1
MCX Gold Double Bottom – Potential ReversalIn the last two weeks, MCX gold has lost -2003 points. We may see a continued downtrend up to the support line (Range: 49600 - 49200 ). Intraday traders can play between freefall by taking it as a target. As mentioned in the chart, the double bottom pattern will complete when the price fails to break past the two bottoms and heads back to the neckline. Short-term targets: 50900 - 51860 Long-term targets: 53560 - 53400 But if gold fails to complete the double bottom pattern by breaking the support line, we may see continue downward movements. And the gold price will come at/below 48760 - 48000 levels. If it happens, I will update you ASAP. Follow my account for immediate update notifications.
MCX:GOLD1!
by freestocktips
3
MCX Silver Trading Strategy for the Intraday TradersSilver is growing slowly. According to this chart, silver is trying to move upside from the strong support trendline. It's a potential reversal point based on a support trendline. Currently, it has broken a strong support trendline. We have chances to see a tail , fakeout , or excess here. That can be up to a hurdle. And the hurdle breakout is a direct sign of a downtrend. After all, 200 MA is recommending further advance here. So, we can pick the silver mega lot for the targets of 63000 - 63360 - 63660 - 64000+ . Safe traders can wait for a 50 MA breakout before entering as well.
MCX:SILVER1!Long
by freestocktips
Will MCX Crude Palm Oil touch the 900?Currently, MCX Crude Palm Oil (CPO) shows an uptrend. By following the ADX, we can say that the trend will rise because ADX is greater than 25 (ADX>25) , and +DI is above the -DI . Let's have a look at the volume. Volume spikes double of the average, so this also shows an uptrend, and it will go to the 900 - 920 - 960+ . Right now, the trend is crossing the parallel channel. If it is excess, then Crude Palm Oil will start to fall to the following targets 836 - 810 . It can be said by following the parallel channel.
C
by freestocktips
MCX Gold Price Trend Analysis & TipsGold is performing in the parallel channel from 22 Sep. Recently, the moving average has tried to crossover but failed. And volume spike is a direct sign of an uptrend. It's sharply moving forward. As I updated on Oct 19, gold is trying to climb upward after hitting the parallel channel. And if it remains in the parallel channel, we may see 51000 - 51500+ levels... And for the day traders, 5 0960 - 51130 - 51260+ levels. Please note parallel channel breakdown is not the best place for a short. A better place for shorts is the hurdle line. Here I have used ADX to identify the trend strength. Gold's ADX < 25 means the uptrend is weak. What will happen after a breakout of a parallel channel and hurdles? I will update it in my next update of Gold. If this idea is helpful to you, please leave a comment below and press the like.
MCX:GOLD1!Long
by freestocktips
1
MCX Zinc Ready For Another Rally AttemptZinc is going upward since April. Recently, it has broken the strong support trendline and made an excess. At present, it's running at a strong support line. So what are you expecting next? Technically, the crossover of 20 & 50 MA indicating a downtrend ahead, and multiple volume spikes are a direct sign for an uptrend. Simple Trading Strategy for the Intraday Traders: The day traders can keep buying above 0.886 value of retracement for the target of 194.6 - 196 and above. Breakout of 199.4 means boom..!!! It can fly from there for 203 - 206 levels. According to the Fibonacci retracement & moving average, zinc will collapse soon to the value of 0.786 . So, short-term investors can go for 185 levels.
MCX:ZINC1!Short
by freestocktips
MCX Nickel Detailed Trend Forecast & TipsHere, I have used Elliott wave theory, Fibonacci Retracement, and MA ( 30 & 62 ) to identify the next move. At present, MCX nickel in a corrective wave. We may see a reversion bounce off here. It can be up to 38.20% to 23.60% of the retracement level. Wherein, 38.20% retracement level will act as a resistance and 50.00% vice versa. In other words, nickel will start raising for 1076 - 1090 - 1100 level. Dynamic resistance breakout will lead the prices for a 23.60% retracement level. Intraday or positional trader can hold 1080 level. If nickel breakout the strong support and 50.00% retracement level, don't buy. That can slip immediately for a 61.80% retracement level. Also, don't forget to wait for a crossover of MA 30 & 62.
MCX:NICKEL1!
by freestocktips
2
Crude oil Price Limited Downside, Big Upside The trend is making a symmetrical triangle. In the symmetrical triangle, you can see the trend is descending, and it will continue to fall up to the particular targets, which are shown in the charts (T1 2886 & T2 2800 ). After knocking the lower ascending trendline with higher lows (support), It will bounce to the upper descending trendline with the lower highs (resistance). After that, If the trend makes consecutive candles, there will be an ascending trend. B ut don't sell if the trend falls and crosses the stop loss.
MCX:CRUDEOIL1!
by freestocktips
4
MCX Aluminium Intraday Tips For TodayAccording to this chart, aluminium is moving flat under the rectangle pattern. The top of this rectangle is the resistance , and the bottom of this rectangle is the support . The trend is making frequent parallel channels between the support and resistance of this rectangle. At present, aluminium is playing into support trendline (B) . There is a crucial support. Fakeout, volume spike, tail, massive buying pressure, and S-RSI crossover is made in that area. So, break out of the crucial support means downfall for the levels of 143.6 - 142.6 . ...but aluminium will try to climb because of 50 & 10 MA crossover. Therefore we may see prices at 146.6 - 147.4 - 148+ soon.
MCX:ALUMINIUM1!Long
by freestocktips
MCX Gold Trading Strategy for Intraday TradersThis chart is all about the assumption of the future moves of the gold, which has created by using the Elliott wave patterns of impulsive & corrective waves. In the beginning, there are impulsive waves which converted into the corrective waves now. Gold cannot keep drilling downward. Before the downtrend begins, we may see the following levels: 51160 - 51300 - 51460 - 51600+ Kindly note, don't buy it after a breakdown of the last tail. This breakout can pulldown the gold price up to 50660 - 50400 levels.
MCX:GOLD1!Long
by freestocktips
MCX Natural gas Struggling at Strong SupportOn the chart above, we have plotted three different MAs on the 1-hour chart of MCX Natural gas futures. As you can see, the 62 MA is indicating a downtrend ahead. And 5 MA & 30 MA are crossing each other for a reversal. This reversal can be for 174 to 180 levels. But according to the support & resistance trendline, we may see continue price collapsing. I have also highlighted a support area with green color . Particularly from this point, it's taking a u-turn. For safe traders, short positions can be initiated after 170 levels. Targets: 167.6 - 165 - 162.6 - 160
MCX:NATURALGAS1!
by freestocktips
11