TODAY MARKETS
MCX Gold Price Trend Analysis & Tips
Gold 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, 51000 – 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.
BHARTIARTL investors eyes:
The bhartiartl has made double bottom and it is in support line.
A curve movement has occurred in this stock.
Investor generally invest in this point the risk factors become low.
In future how at every resistance can react in that point it is plotted.
The target is very high because every disciplined investor will look at the best possible higher targets.
The price movement is low.
MCX Gold & Zinc – Tips & Updates
Have you bought Gold? If not, I have updated a free call on gold three days back.
Read Now: Gold Spot vs. MCX Gold – Weekly Reports & Tips
I had written in bold words, “according to this chart, gold is trying to climb upward after hitting the PC (Parallel Channel). And if it remains into the PC, we may see 51000 – 51500+ levels before the weekend”.
Gold has reached the first target (51000) and made a high of 51454 yesterday. Will it touch the next target or not?
Min. Profit Per Lot: Rs.30,000
I have updated a free Zinc trading call on 15 Oct 2020. First, visit here to read that article: MCX Zinc Ready For Another Rally Attempt
I had written clearly, “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”.
Zinc has touched all day trading targets, and it has also touched the positional target of 203. Will it touch the last target 206 level before the weekend?
Min. Profit Per Lot: Rs.61,000
What else you want in a free subscription? Click here to get premium MCX trading calls.
Aluminium – ADX & Fib Retracement Reverse signals & analysis
At present, MCX aluminium playing on support trendline and drilling upward. Its volume is spiking 2X compares to average volume. Each spike is turning the existing trend. And moving average has tried to cross 50 MA with 20 MA but failed. That indicates continue uptrend ahead.
According to ADX & Fib retracement, the bullish trend will start after a crossover ADX value of 25 until intraday traders can keep selling Aluminium for the targets of 150.6 – 149.6.
What happens after ADX > 25?
Aluminium will start moving upside for 154 – 156.6 – 160+ levels.
MCX Nickel Double Top – Potential Reversal
According to this chart, MCX Nickel is making a double top chart pattern. It’s at risk of a bearish trend after double top formation. Wherein the first top at 1158.4 level, and the second top can be between the range of 1160 – 1176.
If it’s a second top, nickel will make a large false break pin bar here. That might be up to the 1176 level. Afterward, the short-term traders can sell it for levels of 1106 – 1076 and below.
Here I have drawn a neckline as a support trendline to get an accurate exit/entry point.
Wait for the right entry-level, don’t sell above 1160 level.
Further information I will update to the premium subscribers only.
Gold Spot vs MCX Gold – Weekly Reports & Tips
Here I have compared Gold Spot (CFD) with Indian MCX Gold to identify this week’s trend.
In the chart, there are two different support levels. Wherein support level 1860 is for gold spot, and 49260 for the MCX gold.
I have used moving average and volume on Indian gold. At present, 50 MA is turning downside. If it breaks the parallel channel (PC), gold will fall for 50000 – 49860 – 49500 levels.
According to this chart, gold is trying to climb upward after hitting the PC. And if it remains into the PC, we may see 51000 – 51500+ levels before the weekend.
To read all reports from 2009 to 2020 years
PEOPLES LIKES & COMMENTS
Shreya Kumarthis is so good
- Rohit prakash
Nice chart thanx for sharing your knowledge.
- Ridhima pandey
fabulous analysis thank you for sharing.
- Ravi batra
sir, should I wait or buy as the second target is very close?
- Ashish sharma
pehla target touch ho gaya book karu ya wait karu?
- Rumi iyer
sir pehla target touch ho gaya he buy karu ya nahi ?
- Aarya sethupathi
sir, thanks for sharing, the first target reached and the second is almost there what should I do? should I book or wait for the second target?
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